Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements but apply an expense ratio — often 50%. Personal accounts typically qualify you for more income.

Question 2

Do I need to be self-employed for 2 years?

Accepted Answer

Most lenders want 2 years of self-employment history. Some allow 1 year with strong compensating factors.

Question 3

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes — these are non-QM loans and carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 4

Can I buy a jumbo property in San Clemente with this loan?

Accepted Answer

Yes. Many bank statement programs go well above conforming limits. That makes them a real option in San Clemente's higher price range.

Question 5

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average your deposits over 12 or 24 months. Inconsistency hurts, but averaging smooths out seasonal swings.

Question 6

Do I need a CPA letter or tax returns?

Accepted Answer

No tax returns required. Some lenders ask for a CPA letter confirming self-employment, but not all.

Bank Statement Loans in San Clemente, CA