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Norco is horse country — and a lot of the people who live here run their own businesses. Contractors, truckers, landscapers, and tradespeople are everywhere in this city.
Tax returns rarely show what these borrowers actually earn. Bank statement loans fix that by using 12 to 24 months of deposits instead.
620+
Min Credit Score
10% minimum
Down Payment
12–24 months
Statement History
2+ years typical
Self-Employment
Bank Statement Loans in Norco
Lenders typically want 12 months of personal or 24 months of business bank statements. They calculate your income from average monthly deposits — not your Schedule C.
Most lenders require a credit score of 620 or higher. Down payments typically start at 10%, but stronger profiles can sometimes do less.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Norco.
Norco is horse country — and a lot of the people who live here run their own businesses. Contractors, truckers, landscapers, and tradespeople are everywhere in this city.
Tax returns rarely show what these borrowers actually earn. Bank statement loans fix that by using 12 to 24 months of deposits instead.
Lenders typically want 12 months of personal or 24 months of business bank statements. They calculate your income from average monthly deposits — not your Schedule C.
Bank statement loans are non-QM products. That means your bank and most credit unions won't offer them. You need a lender that specializes in non-QM.
At SRK CAPITAL, we work with 200+ wholesale lenders — including dedicated non-QM shops. We find the program that fits your deposit history and property type.
The biggest mistake self-employed borrowers make is mixing business and personal deposits. Lenders will flag that and may discount your income — or deny the file.
Keep your accounts clean for at least 12 months before applying. Large irregular deposits need a paper trail. Lenders will ask, so get ahead of it.
A 1099 loan may work if your income is contractor-based and consistent. A P&L loan is another option if your CPA prepares detailed profit and loss statements.
Bank statement loans beat both when your income is variable or your write-offs are heavy. Talk to us about which non-QM path actually fits your situation.
Norco properties often include horse facilities, large lots, and custom structures. Some lenders get nervous on rural or equestrian properties — many non-QM lenders don't.
Riverside County can run large loan amounts on these properties. Make sure your lender's non-QM program goes high enough to cover your purchase price.
Yes. Most lenders accept business statements but apply an expense factor — often 50%. Personal statements usually get a higher income credit.
Yes. Rates run higher on non-QM products. Rates vary by borrower profile and market conditions.
Many non-QM lenders are comfortable with equestrian and rural properties. Confirm property type eligibility before you apply.
Most lenders require at least 2 years of self-employment history. Some may accept 1 year with strong compensating factors.
Lenders want full statements — all pages, no gaps. 12 or 24 consecutive months is standard depending on the program.