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Grass Valley attracts self-employed buyers — contractors, consultants, small business owners. Tax returns rarely show their real income.
Bank statement loans fix that. Lenders use 12 to 24 months of deposits to qualify you instead of W-2s or tax returns.
620–680+
Min Credit Score
10–20%
Down Payment
12–24 months
Bank Statements Needed
3–6 months
Reserves Required
Bank Statement Loans in Grass Valley
Most lenders want a 680+ credit score for bank statement loans. Some programs go down to 620, but the rate climbs fast.
Expect a 10-20% down payment. You'll also need 3-6 months of cash reserves after closing.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Grass Valley.
Grass Valley attracts self-employed buyers — contractors, consultants, small business owners. Tax returns rarely show their real income.
Bank statement loans fix that. Lenders use 12 to 24 months of deposits to qualify you instead of W-2s or tax returns.
Most lenders want a 680+ credit score for bank statement loans. Some programs go down to 620, but the rate climbs fast.
Banks don't offer these. Bank statement loans are Non-QM products — meaning they fall outside standard lending rules.
Wholesale lenders specialize in them. A broker with access to 200+ lenders will find terms a single bank simply can't match.
The biggest mistake self-employed borrowers make: mixing personal and business deposits. Keep accounts clean before applying.
Lenders typically count 50% of business deposits as income. Personal accounts count at 100%. Know which statements to submit.
A 1099 loan works if most of your income is contractor pay. P&L loans use an accountant-prepared statement instead of bank records.
Asset depletion loans make sense if you have large reserves but low monthly income. Bank statement loans win when deposits are consistent.
Nevada County has a strong independent workforce — trades, tech, agriculture, tourism. Many buyers here can't qualify conventionally.
Grass Valley properties often include acreage or outbuildings. Non-QM lenders are generally more flexible on property types too.
Yes. Personal statements count deposits at 100%. Business statements are often discounted to 50% to account for expenses.
Most programs require 12 or 24 months. A 24-month average smooths out slow periods and often gets you a better rate.
Yes — rates run higher because the risk profile differs. Rates vary by borrower profile and market conditions.
Many Non-QM lenders accept rural and acreage properties. Confirm property eligibility before submitting your application.
Lenders average deposits over the full 12 or 24 months. Inconsistency hurts your qualifying income but doesn't disqualify you outright.
Underwriting is manual and takes longer than conventional loans. A broker who works Non-QM deals regularly will speed that up.