Question 1

Do I need to show tax returns for a bank statement loan?

Accepted Answer

No. That's the point. Lenders use your deposit history instead of tax returns to calculate income.

Question 2

How many months of bank statements do I need?

Accepted Answer

Most programs require 12 or 24 months. More months often means a more accurate income average and stronger approval.

Question 3

Can I use both personal and business bank statements?

Accepted Answer

Yes. Business statements get an expense factor applied. Personal deposits are usually counted at a higher percentage.

Question 4

What credit score do I need in Ventura County?

Accepted Answer

Most non-QM lenders start at 620. Better rates kick in at 680 and above — score matters here.

Question 5

Are bank statement loan rates much higher than conventional?

Accepted Answer

Yes, they run higher. The gap varies by lender, which is exactly why shopping across multiple non-QM lenders matters. Rates vary by borrower profile and market conditions.

Question 6

How long must I be self-employed to qualify?

Accepted Answer

Most lenders require two years of self-employment history. A business license or CPA letter typically verifies this.

Bank Statement Loans in Moorpark, CA