Question 1

Do I need both personal and business bank statements?

Accepted Answer

Most lenders accept either. Business statements require an expense ratio adjustment to estimate net income. Personal statements are often simpler to underwrite.

Question 2

Can I use bank statements if I just started my business?

Accepted Answer

Most lenders require at least 2 years of self-employment history. A newer business typically won't qualify, regardless of deposit volume.

Question 3

How do lenders calculate income from my statements?

Accepted Answer

They add up qualifying deposits over 12 or 24 months, then divide by that period. Business accounts usually apply a 50% expense factor before averaging.

Question 4

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes — non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions. Stronger credit and larger down payments reduce the gap.

Question 5

Can I buy in Victorville with a bank statement loan and 10% down?

Accepted Answer

Some lenders allow 10% down with strong credit and reserves. Expect more favorable pricing at 20% down or more.

Question 6

What if my deposits include business transfers, not real revenue?

Accepted Answer

Underwriters flag transfers between accounts. Only true revenue deposits count. Mixing accounts creates problems — keep business income deposits clean and separate.

Bank Statement Loans in Victorville, CA