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Galt sits in Sacramento County, drawing self-employed buyers who want more space at lower price points than Sacramento proper.
Bank statement loans exist for one reason: tax returns don't tell the full story for business owners. Lenders use 12–24 months of deposits instead.
620–660+
Min Credit Score
10–20%
Down Payment
12–24 months
Bank Statements Needed
No tax returns
Income Verification
3–6 months typical
Reserves Required
Bank Statement Loans in Galt
Most lenders want a 660+ credit score for bank statement loans. Some programs go down to 620, but expect a higher rate.
You'll need 10–20% down depending on the lender. Reserves of 3–6 months are common. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Galt.
Galt sits in Sacramento County, drawing self-employed buyers who want more space at lower price points than Sacramento proper.
Bank statement loans exist for one reason: tax returns don't tell the full story for business owners. Lenders use 12–24 months of deposits instead.
Most lenders want a 660+ credit score for bank statement loans. Some programs go down to 620, but expect a higher rate.
Bank statement loans are non-QM products. Most retail banks won't touch them. You need wholesale lenders who specialize in alternative income docs.
At SRK CAPITAL, we work with 200+ wholesale lenders. That matters here — non-QM pricing varies a lot across lenders on the same borrower file.
The biggest mistake self-employed borrowers make: applying with one lender and accepting the first number. Non-QM rates are not standardized.
Personal vs. business statements also matters. Business statements often require an expense factor — typically 50%. Personal statements avoid that calculation.
If you have strong 1099 income, a 1099 loan might qualify you at a better rate than bank statements. Worth running both scenarios.
Profit & Loss statement loans are another option. A CPA-prepared P&L can sometimes replace bank statements entirely with the right lender.
Galt has a strong base of small business owners — contractors, ag-related businesses, truckers. Bank statement loans fit that borrower profile well.
Sacramento County non-QM deals close regularly. Local appraisers know the market. That familiarity keeps deals from dying on valuation.
Yes. These loans are designed for self-employed borrowers. W-2 employees have easier income verification options available.
Yes, but lenders apply an expense factor — often 50% — to business deposits. Personal statements typically produce higher qualifying income.
Most lenders require 12 months minimum. Some programs ask for 24 months for a stronger approval or better rate.
Yes. Non-QM loans carry more risk for lenders, so rates are higher. Rates vary by borrower profile and market conditions.
Most programs start at 660. Some lenders go to 620, but you'll pay for it in rate. A stronger score gets you better pricing.
Yes, though a DSCR loan is often a better fit for investment properties. Bank statement loans work best for primary or second homes.