Question 1

Can I use personal bank statements if my business account is new?

Accepted Answer

Yes, if you're sole proprietor and deposits clearly reflect business income. Most lenders accept personal accounts but may apply a lower income calculation percentage.

Question 2

What if my bank statements show large irregular deposits from equipment sales?

Accepted Answer

Underwriters typically exclude one-time deposits and average recurring income only. Provide context with a letter explaining non-recurring transactions to speed approval.

Question 3

Do all 200+ lenders you access offer bank statement programs?

Accepted Answer

No, about 30-40 specialize in non-QM products like bank statement loans. We match your situation to lenders who actually approve Soledad ag and self-employed borrowers.

Question 4

How do seasonal income dips affect my qualifying amount?

Accepted Answer

Lenders average all months, so low winter deposits reduce your calculated income. Using 24 months instead of 12 creates a smoother average in seasonal businesses.

Question 5

Can I count cash deposits if I run a cash-heavy business?

Accepted Answer

Some lenders accept documented cash deposits, but many require you to explain their source. Consistent deposit patterns with supporting invoices help justify cash income.

Bank Statement Loans in Soledad: Income Verification Built for the Self-Employed