Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements. They apply an expense factor — typically 50% — to calculate your qualifying income.

Question 2

How long do I need to be self-employed?

Accepted Answer

Most lenders require 2 years of self-employment. Some will go down to 1 year with strong compensating factors.

Question 3

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM loans carry more lender risk. Rates vary by borrower profile and market conditions.

Question 4

Can farm owners in Merced use this loan?

Accepted Answer

Absolutely — it's one of the best fits. Seasonal deposit patterns are common, and lenders who specialize in non-QM understand that.

Question 5

What properties can I buy with a bank statement loan?

Accepted Answer

Primary homes, second homes, and investment properties all qualify. Loan-to-value limits may vary by property type.

Bank Statement Loans for Merced's Self-Employed Borrowers