Question 1

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 months. Some require 24. More history usually means a stronger file and better rate.

Question 2

Can I use business bank statements to qualify?

Accepted Answer

Yes. Lenders apply an expense ratio — often around 50% — to business deposits to calculate qualifying income.

Question 3

What credit score do I need for a bank statement loan?

Accepted Answer

Most Non-QM lenders want at least 620. Higher scores get better rates. Rates vary by borrower profile and market conditions.

Question 4

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes, typically. Non-QM loans carry more lender risk. Rates vary by borrower profile and market conditions.

Question 5

Do I need to be self-employed for a bank statement loan?

Accepted Answer

Yes. These loans are designed for self-employed borrowers who can't document income through W-2s or tax returns.

Question 6

Can I buy in Montclair with a bank statement loan?

Accepted Answer

Yes. There's no geographic restriction. SRK CAPITAL works with lenders who fund Non-QM loans throughout San Bernardino County.

Bank Statement Loans in Montclair, CA