Question 1

Can I use a business bank account for this loan?

Accepted Answer

Yes, but lenders apply an expense ratio — often 50% — to business deposits. Personal accounts may yield a higher qualifying income.

Question 2

Do I need two years of self-employment history?

Accepted Answer

Most lenders require 2 years of self-employment. Some Non-QM lenders accept 12 months with a strong file.

Question 3

What loan amounts are available in Camarillo?

Accepted Answer

Bank statement loans can go well above conforming limits. Jumbo amounts are available depending on the lender and your qualifying income.

Question 4

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 5

How long does approval take on a bank statement loan?

Accepted Answer

Expect 3 to 4 weeks. Non-QM underwriting takes longer than conventional — clean documentation shortens the timeline.

Question 6

Can I buy an investment property with a bank statement loan?

Accepted Answer

Yes. Some lenders offer bank statement programs for investment properties, though terms differ from primary residence loans.

Bank Statement Loans for Camarillo's Self-Employed