Question 1

Do I need business bank statements or personal?

Accepted Answer

Either works. Personal accounts give you a higher income credit — 100% of deposits count. Business accounts are typically discounted by an expense factor.

Question 2

Can I use a bank statement loan for a Laguna Beach jumbo?

Accepted Answer

Yes. Non-QM jumbo bank statement programs exist. Expect stricter reserve requirements and a larger down payment above conforming limits.

Question 3

What if my deposit amounts vary month to month?

Accepted Answer

Lenders average your deposits over 12 or 24 months. Large swings hurt your average — consistency across months matters most.

Question 4

How does the rate compare to a conventional loan?

Accepted Answer

Bank statement loans carry higher rates than conventional. The trade-off is qualifying without tax returns. Rates vary by borrower profile and market conditions.

Question 5

How long does the process take?

Accepted Answer

Most bank statement loans close in 21 to 30 days. Having 24 months of clean statements ready up front keeps things moving.

Bank Statement Loans in Laguna Beach, CA