Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements. They apply an expense factor — often 50% — to estimate your net income.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders want at least 2 years. Some accept 12 months with strong statements and a solid credit profile.

Question 3

Will seasonal farming income hurt my application?

Accepted Answer

Not necessarily. A 24-month average smooths seasonal swings. Lenders familiar with ag borrowers understand this income pattern.

Question 4

How is my income calculated from bank statements?

Accepted Answer

Lenders total your deposits over 12 or 24 months, then divide by months. Business accounts also get an expense factor applied.

Question 5

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM lenders price for the added flexibility. Rates vary by borrower profile and market conditions.

Question 6

Can I buy a primary home with a bank statement loan in Livingston?

Accepted Answer

Yes. Bank statement loans work for primary homes, second homes, and investment properties. No tax return income required.

Bank Statement Loans in Livingston, CA