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Lompoc has a real self-employed community. Contractors, vineyard operators, and small business owners don't fit the W-2 mold.
Bank statement loans exist for exactly this borrower. Your tax returns don't have to tell the whole story.
640+
Min Credit Score
12–24 Months
Statement History
10–20%
Down Payment
3–6 Months
Reserves Required
Bank Statement Loans in Lompoc
Lenders want 12 to 24 months of personal or business bank statements. They average your deposits to calculate qualifying income.
Most programs require a 640+ credit score and 10-20% down. Reserves of 3-6 months are common. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Lompoc.
Lompoc has a real self-employed community. Contractors, vineyard operators, and small business owners don't fit the W-2 mold.
Bank statement loans exist for exactly this borrower. Your tax returns don't have to tell the whole story.
Lenders want 12 to 24 months of personal or business bank statements. They average your deposits to calculate qualifying income.
Big retail banks rarely offer bank statement loans. This product lives in the non-QM wholesale market.
At SRK CAPITAL, we work with 200+ wholesale lenders. That means real options — not one lender's one program.
Business bank statements get an expense factor applied — usually 50%. Personal statements often get 100% credit. Which account you use matters.
Inconsistent deposit history kills deals. If your deposits are irregular, we'll tell you upfront before you're in contract.
A 1099 loan uses your contractor earnings directly. A P&L loan leans on a CPA-prepared statement. Bank statement loans work without either.
If you have strong cash flow but aggressive write-offs, bank statements usually show more income than your tax returns ever will.
Santa Barbara County has a strong agricultural and wine industry base. Many Lompoc-area business owners run seasonal or variable-income operations.
Variable deposits are normal for seasonal businesses. Lenders who understand this underwrite the full 24-month picture — not just one bad month.
Most lenders want 12 or 24 months. The longer the history, the stronger your file.
Yes, but lenders apply an expense factor — often 50%. Personal statements may show higher qualifying income.
Most bank statement programs start at 640. Better scores get better rates. Rates vary by borrower profile and market conditions.
Unexplained large deposits raise flags. Lenders want consistent, business-sourced deposits they can document.
Both. Bank statement loans work for purchase and cash-out refinance in Santa Barbara County.