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Moreno Valley has a strong base of self-employed residents — contractors, truckers, small business owners. Standard W-2 loans miss most of them.
Bank statement loans fill that gap. Your deposits prove your income, not your tax returns.
620–640 typical
Min Credit Score
12–24 months
Statements Required
10–20% typical
Down Payment
No
Tax Returns Needed
Non-QM
Loan Type
Bank Statement Loans in Moreno Valley
Most lenders want 12 months of bank statements minimum. Twenty-four months gets you better rates and higher loan amounts.
Expect a minimum credit score around 620 to 640. Larger down payments — typically 10% to 20% — are standard for this loan type.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Moreno Valley.
Moreno Valley has a strong base of self-employed residents — contractors, truckers, small business owners. Standard W-2 loans miss most of them.
Bank statement loans fill that gap. Your deposits prove your income, not your tax returns.
Most lenders want 12 months of bank statements minimum. Twenty-four months gets you better rates and higher loan amounts.
Big retail banks don't offer bank statement loans. You need non-QM wholesale lenders — and there are real differences between them.
We work with 200+ wholesale lenders. Expense ratios, rate structures, and overlays vary significantly. Shopping matters here.
The biggest issue we see: business owners mixing personal and business deposits. Keep accounts clean — co-mingled funds kill deals.
Lenders apply an expense ratio to business accounts. If your ratio is 50%, only half your deposits count as income. Personal accounts avoid that haircut.
A 1099 loan may work better if you get most income on 1099 forms. A P&L loan can work if a CPA prepares your statement.
Bank statement loans give you the most flexibility if your income is mixed or irregular. We run both options and show you which qualifies you for more.
Riverside County has a large population of owner-operators in logistics, construction, and trades. Bank statement loans were practically built for this borrower profile.
Moreno Valley sits near major distribution hubs. Many local business owners here run LLCs and show low taxable income — exactly who this loan serves.
Yes. Most lenders accept business statements but apply an expense ratio. Personal statements count dollar-for-dollar.
Loan limits depend on your qualifying income and down payment. Many non-QM lenders go up to $3M or higher.
No. Most lenders start around 620. Better scores get better rates — rates vary by borrower profile and market conditions.
Yes, if your LLC has its own bank account with consistent deposits. Two years of LLC history strengthens the file.
Bank statement loans require actual proof — your deposit history. Stated income loans required no verification and no longer exist.
Non-QM loans typically close in 21 to 30 days. Having 24 months of clean statements ready speeds the process up.