Loading
Patterson sits in Stanislaus County, a region with a strong base of small business owners, truckers, and agricultural entrepreneurs.
Many of these borrowers write off expenses aggressively. Their tax returns look broke. Their bank accounts tell a different story.
640+
Min Credit Score
12–24 Months
Statements Required
10–20%
Down Payment
Self-Employed Only
Employment Type
Higher than Conv.
Rate Type
Bank Statement Loans in Patterson
You need 12 to 24 months of personal or business bank statements. Lenders average your monthly deposits to calculate income.
Most lenders want a 640+ credit score and 10-20% down. Business statement loans apply an expense factor — typically 50% — to calculate net income.
Bank statement loans are non-QM products. That means most big retail banks don't offer them.
Wholesale lenders specialize here. As a broker, we access 200+ of them — so you're not stuck with whoever has a branch on Main Street.
The biggest mistake self-employed borrowers make: they hand over business statements without cleaning up commingled expenses. That tanks your qualifying income fast.
Personal statements usually produce higher income numbers. We run both scenarios before picking which set to submit. That difference can determine approval.
A 1099 loan works if your income is cleanly documented on 1099 forms. A P&L loan uses an accountant-prepared statement instead of bank deposits.
Bank statement loans are often the strongest fit when your 1099s understate income or your accountant isn't set up to produce a lender-ready P&L.
Patterson has a heavy concentration of owner-operators in trucking, farming, and construction. These borrowers almost always write off enough to disqualify on conventional loans.
Bank statement loans were built for exactly this profile. If you've been turned down because your Schedule C shows a loss, this is the program worth looking at.
Yes. Lenders apply an expense factor — usually 50% — to business deposits. Personal statements often yield higher qualifying income.
Most bank statement lenders require 640 minimum. Higher scores get better rates. Rates vary by borrower profile and market conditions.
No. Sole proprietors, LLCs, and S-corps all qualify. You need two years of self-employment history in the same field.
Rates run higher than conventional loans. The tradeoff is access — conventional won't work if your taxable income is too low.
Yes. Many borrowers use bank statement loans to buy, then refinance once they can show two years of stronger tax returns.
Lenders average all 12 or 24 months. Inconsistent deposits don't disqualify you — they just affect your average monthly income.