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Rialto sits in the Inland Empire, a region packed with independent contractors, truckers, and small business owners. Tax returns rarely tell their full income story.
Bank statement loans fix that problem. Lenders use 12 to 24 months of deposits to calculate income — no W-2s, no pay stubs required.
620–660 typical
Min Credit Score
12–24 mo. statements
Income Docs
10% minimum
Down Payment
2+ years
Self-Employed Req.
Most lenders want a 620 to 660 minimum credit score. Stronger scores get better pricing — 700+ puts you in a much better tier.
Down payments typically start at 10%. Expect 15 to 20% if your credit is below 680 or your loan amount is larger.
Bank statement loans are non-QM products. Most retail banks don't offer them. You need a broker or wholesale lender with a non-QM shelf.
HousingWire flagged Pennymac TPO adding bank statement loans to their wholesale lineup — more lender competition means more rate options for Rialto borrowers. Rates vary by borrower profile and market conditions.
Business bank statements get an expense ratio applied — usually 50%. Personal statements are counted closer to 100%. That gap changes your qualifying income significantly.
Mixing business and personal accounts is a common mistake. Keep them clean and separate before you apply. Unexplained large deposits will slow approval.
A 1099 loan uses contractor income forms instead of bank statements. If you get consistent 1099s, that path may be cleaner and cheaper.
DSCR loans skip income verification entirely for investment properties. If you're buying a rental in Rialto, that's often the smarter route.
The Inland Empire has a dense population of owner-operators — logistics, construction, and food service businesses are everywhere in Rialto.
That economic profile makes bank statement loans one of the most-used non-QM products in this market. These aren't exotic loans here — brokers write them regularly.
Some lenders accept 12 months. Twelve months gives less income history, so rates are usually slightly higher. Twenty-four months is the stronger option.
Yes. Lenders apply an expense ratio — typically around 50% — to business deposits. Personal statements are counted at a higher percentage.
Most non-QM lenders want 620 to 660 minimum. A score above 700 unlocks better rates and lower down payment requirements.
Yes, typically by 1 to 2 points or more. Non-QM carries more risk for lenders. Rates vary by borrower profile and market conditions.
Most lenders require at least two years of self-employment. A CPA letter confirming your business is active for two years helps.
Yes, but a DSCR loan is usually a better fit for rentals. Bank statement loans work best for primary or second home purchases.
Bank Statement Loans in Rialto