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Exeter sits in Tulare County's agricultural core. Many residents here run their own operations — farms, trades, small businesses.
Standard loan programs demand W-2s. Most self-employed borrowers in Exeter can't produce those. Bank statement loans exist for exactly this situation.
660 typical
Min Credit Score
Bank statements only
Income Verification
12 or 24 months
Statement History
10% typical
Min Down Payment
Non-QM
Loan Type
Bank Statement Loans in Exeter
Lenders pull 12 to 24 months of your bank statements. They average your deposits to calculate income. Business expenses get factored in via an expense ratio.
Credit requirements are stricter than FHA. Most lenders want a 660 or higher. Down payments typically start at 10% and go up from there.
Local decision guide
Use this guide to connect bank statement loans eligibility, lender expectations, and local market factors before comparing payment options in Exeter.
Exeter sits in Tulare County's agricultural core. Many residents here run their own operations — farms, trades, small businesses.
Standard loan programs demand W-2s. Most self-employed borrowers in Exeter can't produce those. Bank statement loans exist for exactly this situation.
Lenders pull 12 to 24 months of your bank statements. They average your deposits to calculate income. Business expenses get factored in via an expense ratio.
Big retail banks don't offer bank statement loans. This is a wholesale and non-QM lender product. You won't find it walking into a branch.
Rate spreads between lenders are wide on non-QM products. Shopping across multiple lenders matters more here than on a conventional loan. Rates vary by borrower profile and market conditions.
The biggest mistake I see: borrowers using personal accounts mixed with business deposits. Lenders flag commingled accounts fast. Keep them clean before you apply.
Business account holders get hit with an expense ratio — often 50%. That cuts your qualifying income in half. Personal accounts avoid this. Know which statement type works best for your situation.
If you get 1099s instead of W-2s, a 1099 loan may qualify you at a better rate. If you have strong assets, asset depletion loans are worth a look.
Own rental property? A DSCR loan skips income verification entirely. It qualifies based on the property's rent income, not yours.
Tulare County has a heavy concentration of ag-related self-employment. Seasonal income is common. Lenders see deposit swings and sometimes push back.
A 24-month bank statement average smooths out seasonal volatility better than 12 months. In ag-heavy markets like Exeter, that distinction often determines approval.
Yes, but lenders apply an expense ratio — often 50%. Personal statements may produce a higher qualifying income for some borrowers.
Most lenders require at least two years of self-employment. Some will approve with 12 months if your CPA letter supports it.
Lenders average your deposits over 12 or 24 months. A longer window smooths out seasonal swings and usually produces a stronger qualifying income.
Most lenders want 660 or higher. Some go lower, but rates increase sharply below that threshold.
Yes. Non-QM loans carry higher rates than conventional products. Rates vary by borrower profile and market conditions.
Both. Bank statement loans are available for purchases and refinances. Property type and down payment affect which lenders will participate.