Question 1

Can I use personal bank statements instead of business?

Accepted Answer

Yes. Many lenders accept personal statements. Business statements often get an expense factor applied, which lowers your qualifying income.

Question 2

Do bank statement loans cost more than conventional?

Accepted Answer

Yes. Rates run higher due to the added risk. Rates vary by borrower profile and market conditions.

Question 3

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

Accepted Answer

Most lenders want a 2-year self-employment history. Some will consider 12 months with strong statements.

Question 4

Is there a minimum loan amount for Wheatland?

Accepted Answer

Some non-QM lenders set minimums around $150K. Wheatland's price range can bump up against that floor — ask before applying.

Question 5

Can I refinance with a bank statement loan?

Accepted Answer

Yes. Rate-and-term and cash-out refinances are both available through non-QM lenders using bank statements.

Bank Statement Loans in Wheatland, CA