Question 1

Can I use business bank statements instead of personal?

Accepted Answer

Yes. Most lenders accept business statements. They typically apply an expense factor — often 50% — to calculate your net qualifying income.

Question 2

How many months of statements do I need?

Accepted Answer

You'll need 12 or 24 months. A 24-month history usually gets you better pricing and stronger approval odds.

Question 3

Do bank statement loans work for Stanton investment properties?

Accepted Answer

Yes, but a DSCR loan may be simpler for rentals. DSCR qualifies on the property's rent income — not yours.

Question 4

What credit score do I need for this loan?

Accepted Answer

Most programs start at 620. A score above 700 opens up better rates and lower down payment requirements.

Question 5

Will large irregular deposits hurt my application?

Accepted Answer

They can. Lenders scrutinize spikes in deposits. Consistent monthly deposits across 12 to 24 months tell a cleaner income story.

Bank Statement Loans for Stanton's Self-Employed Borrowers