Question 1

Can I use business bank statements to qualify?

Accepted Answer

Yes. Most lenders apply a 50% expense factor to business deposits. Personal statements typically allow a higher income calculation.

Question 2

How many months of statements do I need?

Accepted Answer

Most programs require 12 or 24 months. A longer history usually gives you a stronger qualifying income average.

Question 3

Do bank statement loans cost more than conventional loans?

Accepted Answer

Yes. Rates run higher than conventional financing. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need in Orange, CA?

Accepted Answer

Most non-QM lenders want 680 or higher. Some programs go lower, but expect tighter terms and higher rates.

Question 5

Can I use a bank statement loan to buy in Orange County?

Accepted Answer

Absolutely. These loans work for purchases and refinances. We see them used regularly for OC properties at higher price points.

Question 6

What if my deposits vary month to month?

Accepted Answer

Lenders average the full 12 or 24 months. Volatile income is fine — just avoid large one-time deposits you can't explain.

Bank Statement Loans in Orange, CA for the Self-Employed