Question 1

Can I use personal bank statements instead of business statements?

Accepted Answer

Yes, but business statements underwrite cleaner and often get better pricing. Personal accounts raise questions about which deposits are income versus transfers.

Question 2

What down payment do I need for a bank statement loan in Solvang?

Accepted Answer

Expect 10-20% down. Higher credit scores and larger down payments unlock better rates and more lender options.

Question 3

How do lenders calculate income from my bank statements?

Accepted Answer

They total deposits, remove one-time transfers, then apply 50-100% depending on account type. Business accounts typically use 50%, personal accounts use 100%.

Question 4

Do bank statement loans work for seasonal businesses in Solvang?

Accepted Answer

Yes, if you choose a lender experienced with tourism and wine industry income. We match your pattern to underwriters who handle seasonal revenue.

Question 5

How much higher are bank statement loan rates than conventional?

Accepted Answer

Expect 1-2% above conventional rates as of February 2026. Rates vary by borrower profile and market conditions, but that's the typical premium.

Question 6

Can I refinance into a conventional loan later?

Accepted Answer

Yes, if your tax returns eventually show enough income to qualify. Many borrowers use bank statement loans as a bridge until their business matures.

Bank Statement Loans in Solvang: Qualify Without Tax Returns