Question 1

Can I use both personal and business bank statements?

Accepted Answer

Some lenders allow blended statements. Most want one or the other. Your broker should run both to see which gets you the higher income figure.

Question 2

Do I need two full years of self-employment?

Accepted Answer

Most lenders require 24 months. A few accept 12. You'll need a business license or CPA letter to document the start date.

Question 3

Is this loan available for investment properties in American Canyon?

Accepted Answer

Yes. Bank statement loans can be used for investment purchases. Expect a higher rate and larger down payment than on a primary residence.

Question 4

How is income calculated from my bank statements?

Accepted Answer

Lenders average your monthly deposits over 12 or 24 months. Business accounts usually get a 50% expense factor applied before calculating your qualifying income.

Question 5

Why is my rate higher than a conventional loan?

Accepted Answer

Non-QM loans carry more risk for lenders since income isn't verified the standard way. That risk gets priced into the rate. Rates vary by borrower profile and market conditions.

Bank Statement Loans in American Canyon, CA