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Garden Grove has a strong base of small business owners, contractors, and entrepreneurs. These borrowers often can't qualify with tax returns alone.
Bank statement loans fill that gap. They use 12 to 24 months of deposits — not tax forms — to prove you can repay.
620+
Min Credit Score
12–24 Months
Statements Required
10–20%
Min Down Payment
None
Tax Returns Required
Non-QM
Loan Type
Bank Statement Loans in Garden Grove
Lenders typically want 12 months of bank statements minimum. Two years is stronger and opens more programs.
Expect a credit score requirement of 620 or higher. Larger down payments — often 10 to 20 percent — improve your approval odds significantly.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Garden Grove.
Garden Grove has a strong base of small business owners, contractors, and entrepreneurs. These borrowers often can't qualify with tax returns alone.
Bank statement loans fill that gap. They use 12 to 24 months of deposits — not tax forms — to prove you can repay.
Lenders typically want 12 months of bank statements minimum. Two years is stronger and opens more programs.
Most retail banks don't offer bank statement loans. This is a non-QM product — it lives in the wholesale and private lending space.
At SRK CAPITAL, we work with 200+ wholesale lenders. We find the ones pricing this product competitively for Orange County borrowers.
Your expense ratio matters. Lenders apply a fixed expense factor — often 50% — to business deposits to calculate qualifying income.
If you run lean expenses, a P&L statement loan might show higher income. We compare both programs before choosing.
A 1099 loan works better if you receive consistent contractor payments. Bank statement loans suit business owners with variable monthly deposits.
DSCR loans skip income verification entirely — but they're investment property only. Bank statement loans cover primary residences too.
Garden Grove has a dense concentration of restaurant owners, retail operators, and trade contractors. Bank statement loans were practically built for this borrower profile.
Orange County property prices run high. Bank statement loans can support larger loan amounts than FHA, making them practical for this market.
Yes, most lenders accept personal statements. You'll need to show consistent deposits tied to self-employment income.
Yes. Rates run higher than conventional loans. Rates vary by borrower profile and market conditions.
Lenders average deposits over 12 to 24 months. Inconsistency hurts but doesn't automatically disqualify you.
Yes. Bank statement loans cover primary residences, second homes, and investment properties.
Most bank statement programs require 10 to 20 percent down. Stronger credit can reduce that requirement.
Expect 21 to 30 days with a complete file. Missing statements or messy deposits slow things down fast.