Question 1

Do I need 24 months of statements or will 12 work?

Accepted Answer

Twelve months is accepted by most Non-QM lenders. Twenty-four months typically gets you better rates and higher loan amounts.

Question 2

Can I use a mix of personal and business statements?

Accepted Answer

Most lenders want one or the other — not both. Your broker can tell you which set qualifies you for more income.

Question 3

Are bank statement loan rates higher than conventional?

Accepted Answer

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

Question 4

Can I buy a primary home in Vista with this loan?

Accepted Answer

Yes. Bank statement loans cover primary residences, second homes, and investment properties.

Question 5

What if I've only been self-employed for one year?

Accepted Answer

Most lenders require two years of self-employment. A few Non-QM lenders allow one year with strong compensating factors.

Question 6

Is there a maximum loan amount for bank statement loans in San Diego County?

Accepted Answer

Non-QM lenders set their own limits. Many go to $3M or higher — conventional conforming caps don't apply here.

Bank Statement Loans in Vista, CA for the Self-Employed