Question 1

Can I use a business bank account for this loan?

Accepted Answer

Yes. Lenders apply an expense factor — usually 40–50% — to business deposits. Personal accounts skip that deduction but may show lower volume.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders want at least 24 months of self-employment. Some accept 12 months with strong deposits and a solid credit profile.

Question 3

How is my income calculated from bank statements?

Accepted Answer

Lenders average your monthly deposits over 12 or 24 months. Inconsistent months hurt your average — large one-time deposits are often excluded.

Question 4

Are bank statement loan rates higher than conventional?

Accepted Answer

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

Question 5

Can I buy in Buellton with 10% down on this loan?

Accepted Answer

Some lenders allow 10% down on bank statement loans. Expect stronger rate pricing at 20% down or more.

Question 6

What credit score do I need in Santa Barbara County?

Accepted Answer

Most bank statement programs start at 640. Higher scores get better pricing — 700+ opens the widest lender options.

Bank Statement Loans in Buellton, CA