Question 1

Can I use a business bank account for this loan?

Accepted Answer

Yes, but lenders apply an expense factor — often 50% — to business deposits. Personal accounts count at full value.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders require two years. Some accept 12 months with strong compensating factors like a higher credit score.

Question 3

Can I buy a primary residence in Rohnert Park with this loan?

Accepted Answer

Yes. Bank statement loans work for primary residences, second homes, and investment properties.

Question 4

How does my rate compare to a conventional loan?

Accepted Answer

Expect a higher rate than conventional. Rates vary by borrower profile and market conditions — get quotes before assuming the gap is too large.

Question 5

What if my deposits vary month to month?

Accepted Answer

Lenders average your deposits over 12 or 24 months. Seasonal income patterns are common and lenders experienced in non-QM expect them.

Bank Statement Loans in Rohnert Park, CA