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Vacaville has a strong small business presence—contractors, consultants, and franchise owners who can't easily document income through W-2s. Bank statement loans use 12 to 24 months of deposits to calculate qualifying income instead of tax returns.
This matters in Solano County where many self-employed borrowers show lower taxable income than they actually earn. Traditional underwriting penalizes you for legitimate business write-offs. Bank statement programs don't.
Bank Statement Loans in Vacaville
Most lenders require 600-640 minimum credit score. You'll need 10-20% down depending on property type and credit profile. Business or personal bank statements work—whichever shows higher deposits.
Lenders typically use 50-75% of average monthly deposits as qualifying income. If your statements show $15,000 monthly average, you qualify on $7,500 to $11,250. The exact percentage depends on expense ratios the underwriter sees.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Vacaville.
Vacaville has a strong small business presence—contractors, consultants, and franchise owners who can't easily document income through W-2s. Bank statement loans use 12 to 24 months of deposits to calculate qualifying income instead of tax returns.
This matters in Solano County where many self-employed borrowers show lower taxable income than they actually earn. Traditional underwriting penalizes you for legitimate business write-offs. Bank statement programs don't.
Most lenders require 600-640 minimum credit score. You'll need 10-20% down depending on property type and credit profile. Business or personal bank statements work—whichever shows higher deposits.
Bank statement programs aren't offered by major retail banks. You're working with non-QM specialty lenders who price based on risk layers—credit score, down payment, reserves, and loan amount all factor in.
Rates run 1-3% higher than conventional. That's the trade-off for not having to show two years of tax returns or explain why your Schedule C shows $40,000 but your bank statements show $120,000 in deposits.
Clean up your statements before applying. Lenders scrutinize every large deposit. One-time transfers from savings, loan proceeds, or family gifts create underwriting questions that delay closing or kill deals.
Most borrowers qualify better on 12 months versus 24 months. Your income calculation uses the average—if you had a weak business period 18 months ago, it drags down your qualifying number. Run both scenarios before choosing.
If you file 1099s and can document steady income through those forms, 1099 loans sometimes offer better pricing. If you own rental property, DSCR loans ignore personal income entirely and qualify you on rent.
Profit and Loss statement programs exist but fewer lenders offer them. Asset depletion works if you have substantial liquid assets but minimal cashflow. Each non-QM program solves different documentation problems.
Vacaville's housing stock includes single-family homes, condos, and investment properties. Bank statement loans work for all property types though condos sometimes require 15-20% down where houses need 10-15%.
Solano County has manufacturing, agriculture, and service businesses—all common borrower profiles for bank statement programs. If you operate a seasonal business, expect lenders to average deposits across the full cycle, which can hurt winter-heavy or summer-heavy income patterns.
Most lenders require 600-640 minimum credit score. Higher scores unlock better rates and lower down payment requirements.
Yes, business or personal statements both work. Lenders use whichever shows higher average monthly deposits for your income calculation.
Lenders typically use 50-75% of average monthly deposits depending on expense ratios. A $10,000 monthly average qualifies you on $5,000 to $7,500.
Yes, though DSCR loans often work better for rentals since they qualify you on property cashflow instead of personal income. Compare both options.
Expect 10-20% down depending on credit score and property type. Condos and lower credit scores push toward the higher end.