Question 1

Do I need 12 or 24 months of statements?

Accepted Answer

Most lenders accept 12 months. Some require 24. More months can help if your deposits are inconsistent.

Question 2

Can I use a business bank account?

Accepted Answer

Yes. Lenders apply an expense ratio to business deposits. Personal accounts sometimes qualify for more income.

Question 3

Will my tax write-offs hurt my approval?

Accepted Answer

Not on this loan. We use deposits, not taxable income. Write-offs are irrelevant to this qualification method.

Question 4

Are rates higher than conventional loans?

Accepted Answer

Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 5

Can a Loma Linda physician use this loan?

Accepted Answer

Absolutely. Private practice owners and locum tenants are ideal candidates. Self-employed 2+ years is the main requirement.

Bank Statement Loans in Loma Linda, CA