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Folsom attracts a high share of business owners, consultants, and contractors. Tax returns rarely show what these borrowers actually earn.
Bank statement loans solve that problem. Lenders look at 12 to 24 months of deposits — not your Schedule C.
12–24 Months
Statements Required
620–660
Min Credit Score
10–20%
Down Payment
Self-Employed
Employment Type
30–45 Days
Est. Close Time
Bank Statement Loans in Folsom
Most lenders want 12 months of bank statements minimum. Twenty-four months gives you stronger approval odds and better pricing.
Expect a credit score requirement around 620 to 660. Lenders also typically want 10 to 20 percent down.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Folsom.
Folsom attracts a high share of business owners, consultants, and contractors. Tax returns rarely show what these borrowers actually earn.
Bank statement loans solve that problem. Lenders look at 12 to 24 months of deposits — not your Schedule C.
Most lenders want 12 months of bank statements minimum. Twenty-four months gives you stronger approval odds and better pricing.
Bank statement loans are non-QM products. That means most banks won't touch them — you need a wholesale lender that runs a non-QM shelf.
We work with 200+ wholesale lenders at SRK CAPITAL. Several specialize in non-QM and compete hard on bank statement pricing.
The biggest mistake self-employed buyers make is waiting. They assume they can't qualify because their tax returns look thin.
Bring 24 months of personal and business statements. Let the deposit history speak. Strong cash flow closes loans.
A 1099 loan works if your income comes from a few clients on 1099 forms. Bank statement loans work when income is messier.
Profit & loss loans are faster but require a CPA letter. Bank statement loans lean on raw deposit history — no CPA needed.
Folsom sits in Sacramento County, a region with a strong small-business corridor along the Iron Point and E. Bidwell areas.
Home prices here push many buyers past conforming loan limits. Bank statement loans have no conforming cap — amounts go higher.
Yes. Personal statements work if deposits reflect your true income. Business statements often get discounted by an expense ratio.
Rates run higher than conventional. Rates vary by borrower profile and market conditions, but the gap can be worth it for strong cash-flow borrowers.
Most lenders require two years of self-employment history. Some non-QM lenders accept 12 months with strong compensating factors.
Regular business income deposits count. Large one-time transfers, loans, or gifts typically get excluded by underwriters.
Yes, some lenders go to 90% LTV on bank statement loans. Expect tighter credit score requirements at that down payment level.
It takes longer. Non-QM underwriting is manual. Give yourself 30 to 45 days and have your statements clean and organized.