Question 1

Can I use personal bank statements instead of business ones?

Accepted Answer

Yes. Personal statements work, but lenders typically count only 50% of deposits as income. Business accounts often yield higher qualifying income.

Question 2

How long do I need to be self-employed to qualify?

Accepted Answer

Most lenders require two years of self-employment. Some accept one year with strong compensating factors like high reserves or low LTV.

Question 3

Are bank statement loan rates higher than conventional?

Accepted Answer

Yes. Rates run higher than conventional because these are non-QM products. Rates vary by borrower profile and market conditions.

Question 4

Do lenders in this program care about Tuolumne County property types?

Accepted Answer

They do. Rural acreage and non-standard properties face extra scrutiny. Not every non-QM lender will approve them — we check before you apply.

Question 5

What if my deposits are inconsistent month to month?

Accepted Answer

Lenders average the 12 or 24 months. Big swings don't automatically disqualify you, but a strong average still needs to support the payment.

Question 6

How much can I borrow with a bank statement loan in California?

Accepted Answer

Loan limits vary by lender and program. Many non-QM lenders go up to $3M or more for strong borrower profiles.

Bank Statement Loans for Self-Employed Buyers in Jamestown, CA