Question 1

Can I use a business bank account?

Accepted Answer

Yes, but lenders apply an expense factor — often 50%. Personal accounts typically allow a higher percentage of deposits to count as income.

Question 2

Do I need to be self-employed?

Accepted Answer

Yes. Bank statement loans are designed for self-employed borrowers. W-2 employees should look at conventional or FHA programs instead.

Question 3

How many months of statements do I need?

Accepted Answer

Most lenders want 12 to 24 months. The longer the period, the more income stability lenders can verify.

Question 4

Are rates higher than conventional loans?

Accepted Answer

Yes, typically. Non-QM loans carry more lender risk, so rates run higher. Rates vary by borrower profile and market conditions.

Question 5

Can I get a bank statement loan for a Tustin investment property?

Accepted Answer

Some lenders allow it, but a DSCR loan is often a cleaner fit for investment properties. We'll compare both options for your situation.

Question 6

What credit score do I need in Orange County?

Accepted Answer

Most lenders want 620 or higher. Some go lower with stronger compensating factors like large reserves or a lower loan-to-value ratio.

Bank Statement Loans in Tustin, CA