Question 1

Can I use personal bank statements instead of business?

Accepted Answer

Yes. Many lenders allow personal statements. Business statements often show higher deposits but may trigger an expense factor that reduces qualifying income.

Question 2

How long do I need to be self-employed?

Accepted Answer

Most lenders require 2 years of self-employment history. Some accept 1 year with strong deposits and reserves.

Question 3

Do bank statement loans have higher rates than conventional?

Accepted Answer

Yes. Non-QM loans carry more risk for lenders, so rates run higher. Rates vary by borrower profile and market conditions.

Question 4

What if my deposits are inconsistent month to month?

Accepted Answer

Inconsistent deposits raise red flags. Lenders average deposits over the statement period, but big gaps can hurt your file.

Question 5

How much can I borrow in Fullerton with a bank statement loan?

Accepted Answer

Loan limits depend on lender and qualifying income. Many programs go to $3M or higher for strong borrowers in Orange County.

Question 6

Can I use this loan to buy an investment property in Fullerton?

Accepted Answer

Some lenders allow bank statement loans on investment properties. A DSCR loan is often a better fit for rentals — it skips income verification entirely.

Bank Statement Loans for Fullerton's Self-Employed Borrowers