Question 1

Can I use business bank statements?

Accepted Answer

Yes, but lenders apply an expense ratio — often 50%. Personal statements usually produce a higher qualifying income.

Question 2

Do I need to be self-employed for 2 years?

Accepted Answer

Most lenders require at least 2 years of self-employment history. Some accept 1 year with strong compensating factors.

Question 3

How is my income calculated?

Accepted Answer

Lenders total your deposits over 12 or 24 months, then divide by that period. Business accounts are further reduced by an expense factor.

Question 4

Are bank statement loan rates higher?

Accepted Answer

Yes, typically higher than conventional rates. Rates vary by borrower profile and market conditions — shop across lenders.

Question 5

Can I buy a primary home in San Juan Bautista with this loan?

Accepted Answer

Yes. Bank statement loans work for primary homes, second homes, and investment properties.

Bank Statement Loans in San Juan Bautista