Question 1

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. 24 months is standard for borrowers with variable deposit history.

Question 2

Can I use personal bank statements instead of business?

Accepted Answer

Yes, but lenders apply a higher expense ratio to personal accounts. That reduces your qualifying income compared to business statements.

Question 3

Do bank statement loans have higher rates than conventional?

Accepted Answer

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

Question 4

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average deposits over the full statement period. Inconsistent months get smoothed out, but very low months still drag the average down.

Question 5

Can I buy in Petaluma with a bank statement loan?

Accepted Answer

Yes. Bank statement loans work for purchases and refinances in Petaluma. Loan limits depend on your qualifying income and down payment.

Question 6

What counts as a red flag on my statements?

Accepted Answer

Large unexplained deposits, frequent overdrafts, or transfers that inflate balances. Underwriters look at every page carefully.

Bank Statement Loans in Petaluma, CA