Question 1

Can I use a business bank account in Gustine?

Accepted Answer

Yes. Lenders apply an expense ratio — often 50% — to business deposits. Using personal statements avoids that haircut.

Question 2

Do I need to be self-employed for 2 years?

Accepted Answer

Most lenders want 2 years of self-employment history. Some allow 1 year with strong deposits and good credit.

Question 3

How does the lender calculate my income?

Accepted Answer

They average your monthly deposits over 12 or 24 months. That average becomes your qualifying monthly income.

Question 4

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM pricing carries more risk for lenders. Rates vary by borrower profile and market conditions.

Question 5

Can I buy agricultural or rural property with this loan?

Accepted Answer

It depends on the property type. Most non-QM lenders finance standard residential properties. Farms with income-producing land may need a different program.

Bank Statement Loans for Self-Employed Buyers in Gustine