Question 1

What bank statements do I need to provide?

Accepted Answer

Most lenders require 12 to 24 consecutive months. Business statements apply an expense ratio to calculate qualifying income.

Question 2

Can I use a business account instead of personal?

Accepted Answer

Yes. Most non-QM lenders accept business bank statements. They'll typically apply a 50% expense ratio to deposits.

Question 3

How is my income calculated from bank statements?

Accepted Answer

Lenders add your total deposits and divide by months. Business accounts get reduced by an expense ratio before qualifying.

Question 4

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM pricing reflects additional risk. Rates vary by borrower profile and market conditions.

Question 5

How long do I need to be self-employed to qualify?

Accepted Answer

Most lenders require at least two years of self-employment. A CPA letter confirming your business helps.

Question 6

Can I buy in Brea with a bank statement loan?

Accepted Answer

Yes. Non-QM lenders fund purchases and refinances in Orange County. Loan limits vary by lender and program.

Bank Statement Loans in Brea, CA