Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes, but lenders apply an expense factor — often 50% — to business deposits. Personal statements typically produce higher qualifying income.

Question 2

Do bank statement loans have higher rates than conventional?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 3

How many months of statements do I need?

Accepted Answer

Most lenders require 12 to 24 months. Longer history gives lenders more confidence and may improve your terms.

Question 4

Can I buy a primary home in Del Rey Oaks with this loan?

Accepted Answer

Yes. Bank statement loans work for primary residences, second homes, and investment properties.

Question 5

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average your total deposits over the statement period. High variance can raise questions — a broker can help you frame the file.

Question 6

Is a bank statement loan the same as a stated income loan?

Accepted Answer

No. You must document income with actual bank statements. Stated income loans — where no verification was needed — no longer exist.

Bank Statement Loans in Del Rey Oaks, CA