Question 1

Can I use Airbnb income on a bank statement loan?

Accepted Answer

Yes, if it's deposited into your account consistently. Lenders want to see it as recurring business income, not one-off transfers.

Question 2

Do I need two years self-employed to qualify?

Accepted Answer

Most lenders require two years in the same line of work. Some allow one year with strong compensating factors like high reserves.

Question 3

How is income calculated from business statements?

Accepted Answer

Lenders apply an expense ratio — usually 50% — to total deposits. The result is your monthly qualifying income.

Question 4

Are bank statement loans more expensive than conventional loans?

Accepted Answer

Yes. Rates are higher because the loan is non-QM. Stronger credit and larger down payments bring the rate down noticeably.

Question 5

Can I buy a vacation rental in Mammoth with this loan?

Accepted Answer

Yes. Bank statement loans allow second home and investment property purchases. Down payment requirements are typically higher for investment properties.

Question 6

What if my deposits vary a lot month to month?

Accepted Answer

Use 24 months instead of 12. It averages out the swings and gives underwriters a more stable income picture.

Bank Statement Loans in Mammoth Lakes, CA