Question 1

Do I need both personal and business bank statements?

Accepted Answer

Usually one or the other. Your broker picks the account type that gives you the strongest qualifying income.

Question 2

How long do I need to be self-employed?

Accepted Answer

Most lenders require 2 years of self-employment. Some will consider 1 year with strong compensating factors.

Question 3

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 4

Can I use a bank statement loan on an investment property?

Accepted Answer

Yes. Some lenders offer bank statement programs for non-owner-occupied properties in Orange County.

Question 5

What's the maximum loan amount in Huntington Beach?

Accepted Answer

Non-QM lenders set their own limits. Many go to $3M or higher for well-qualified borrowers.

Question 6

Will large deposits from business sales count against me?

Accepted Answer

Lenders scrutinize large irregular deposits. Consistent recurring deposits qualify better than one-time windfalls.

Bank Statement Loans in Huntington Beach, CA