Question 1

Do I need to be self-employed to use a bank statement loan?

Accepted Answer

Yes. These loans are designed for self-employed borrowers. W-2 employees should use conventional or FHA loans instead.

Question 2

Can I use business bank statements?

Accepted Answer

Yes, but lenders apply an expense factor — often 50%. Personal statements may qualify you for more. We compare both.

Question 3

How long do I need to be self-employed?

Accepted Answer

Most lenders require 2 years of self-employment history. Some accept 1 year with strong compensating factors.

Question 4

Are bank statement loan rates higher than conventional rates?

Accepted Answer

Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 5

What credit score do I need in Dinuba?

Accepted Answer

Most non-QM lenders want 660 or higher. Some programs go lower with larger down payments or more reserves.

Question 6

How much can I borrow with a bank statement loan?

Accepted Answer

Loan limits vary by lender and your qualifying income. Many non-QM lenders go up to $3M or higher on jumbo scenarios.

Bank Statement Loans in Dinuba, CA