Question 1

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 or 24 months. More months usually means a stronger income average and better rate.

Question 2

Can I use business bank statements?

Accepted Answer

Yes. Lenders apply an expense ratio — often 50% — to business deposits. Personal statements are typically counted in full.

Question 3

What credit score do I need in Fairfield?

Accepted Answer

Most bank statement programs start at 660. Better scores get lower rates. Rates vary by borrower profile and market conditions.

Question 4

Do I need to be self-employed for two years?

Accepted Answer

Yes — most lenders want a two-year self-employment history. A CPA letter confirming your business is common.

Question 5

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes, typically. Non-QM loans carry more risk for lenders. That's reflected in the rate. Rates vary by borrower profile and market conditions.

Question 6

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

Accepted Answer

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

Bank Statement Loans in Fairfield, CA