Question 1

Can I use personal bank statements in Visalia?

Accepted Answer

Yes. Some lenders accept personal statements. Expect a higher expense factor applied to your deposits.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders want at least two years. Some allow one year with strong deposits and a solid credit profile.

Question 3

Will my farm income qualify?

Accepted Answer

Farm deposits can qualify if they're consistent and documented in your bank statements. Seasonal patterns require explanation.

Question 4

How is my income calculated from bank statements?

Accepted Answer

Lenders average your monthly deposits. Then they apply an expense ratio — typically 50% for personal, less for business.

Question 5

Are bank statement loan rates higher than conventional?

Accepted Answer

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

Question 6

Can I use this loan for an investment property in Visalia?

Accepted Answer

You can, but a DSCR loan often works better for rentals. Bank statement loans suit primary and second homes best.

Bank Statement Loans for Visalia's Self-Employed Buyers