Question 1

Can I use personal bank statements instead of business?

Accepted Answer

Yes. Personal statements skip the expense factor. All deposits must be clearly from business income.

Question 2

What credit score do I need for a bank statement loan in Irvine?

Accepted Answer

Most lenders start at 620. Better scores get better rates. Rates vary by borrower profile and market conditions.

Question 3

How many months of statements do I need?

Accepted Answer

Minimum 12 months. Twenty-four months gives lenders more confidence and usually gets you better pricing.

Question 4

Can I get a jumbo loan using bank statements?

Accepted Answer

Yes. Many non-QM lenders go to $3M or higher on bank statement programs. Irvine buyers use this regularly.

Question 5

Do large deposits hurt my application?

Accepted Answer

Unusual large deposits raise flags. Lenders want consistent monthly cash flow, not spikes. Document any large one-time deposits.

Question 6

How do rates compare to conventional loans?

Accepted Answer

Expect to pay more. Bank statement loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Bank Statement Loans for Irvine's Self-Employed