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Truckee attracts a lot of self-employed buyers. Ski instructors, contractors, short-term rental operators — income looks messy on paper.
Bank statement loans skip the W-2. Lenders use 12 to 24 months of deposits to calculate what you actually earn.
680 (typical)
Min Credit Score
12–24 months
Statements Required
10–20%
Down Payment
2+ years preferred
Self-Employed History
Typically higher
Rate vs Conventional
Bank Statement Loans in Truckee
Most lenders want a 680+ credit score for bank statement loans. Some go lower, but rates climb fast below that threshold.
Expect a 10–20% down payment. Lenders offset the non-traditional income verification with more skin in the game.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Truckee.
Truckee attracts a lot of self-employed buyers. Ski instructors, contractors, short-term rental operators — income looks messy on paper.
Bank statement loans skip the W-2. Lenders use 12 to 24 months of deposits to calculate what you actually earn.
Most lenders want a 680+ credit score for bank statement loans. Some go lower, but rates climb fast below that threshold.
Big banks rarely offer bank statement loans. This is a non-QM product — it lives in the wholesale and private lender space.
We work with 200+ wholesale lenders. Several specialize in non-QM, which means real competition on rate and terms for your file.
How lenders count your deposits matters. Personal accounts use 100% of deposits. Business accounts typically use 50%, sometimes less.
If your Truckee rental income flows through a business account, get clean statements. Mixed personal and business deposits create problems fast.
A 1099 loan works if most of your income comes from contract work. Bank statement loans fit better when income streams are more varied.
Profit & loss statement loans use a CPA-prepared P&L instead of statements. Some lenders will combine both to strengthen your file.
Truckee's housing market skews toward vacation and investment properties. Many buyers here operate STRs — short-term rentals — as their primary income.
STR income deposited monthly looks consistent to a bank statement lender. That's a real advantage if you're converting rental cash flow into qualifying income.
Some lenders allow both. Business deposits are usually counted at 50%, so mixing accounts can lower your qualifying income.
Yes. Second home and investment property programs exist in the non-QM space. Rates will be higher than primary residence loans.
Rates run higher than conventional — you're paying for flexibility. Rates vary by borrower profile and market conditions.
Lenders will average 12 or 24 months of deposits. Seasonal swings matter less when the annual average is strong.
If that income hits your bank account consistently, it can count. Document the source and keep statements clean.
12 months works but usually means a higher rate. 24 months gives lenders more confidence and often gets better pricing.