Question 1

Can I use personal and business bank statements?

Accepted Answer

Yes, most lenders accept both. Personal statements often show higher net deposits, which can increase your qualifying income.

Question 2

How far back do statements need to go?

Accepted Answer

Most programs require 12 or 24 months. The 24-month option typically offers better rates but requires more documentation.

Question 3

Do large one-time deposits hurt my application?

Accepted Answer

They can. Lenders average your deposits over time. One-time transfers or loans into your account need to be explained and sourced.

Question 4

What credit score do I need in Davis?

Accepted Answer

Most bank statement lenders want 620–680 minimum. Scores above 700 unlock significantly better pricing. Rates vary by borrower profile.

Question 5

Can I use this loan for a rental property in Davis?

Accepted Answer

Yes. Bank statement loans work for investment properties, though down payment and reserve requirements are typically higher than owner-occupied purchases.

Question 6

How long does it take to close a bank statement loan?

Accepted Answer

Expect 21–35 days with a complete file. Missing or inconsistent statements are the main cause of delays — get those organized early.

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