Question 1

Do both loans require a CPA?

Accepted Answer

P&L loans require a CPA-prepared statement. Bank Statement Loans don't — you just submit your bank records directly.

Question 2

Which loan qualifies me for more?

Accepted Answer

Usually bank statements. P&L income is often underwritten more conservatively. Run the numbers on both with your broker.

Question 3

Can I use personal bank statements?

Accepted Answer

Yes, most Bank Statement Loan programs accept personal accounts. Business accounts work too, with an expense factor applied.

Question 4

Are these loans available in Alameda County?

Accepted Answer

Yes. As of April 2026, both programs are available through non-QM wholesale lenders active in Alameda County.

Question 5

How long does it take to close?

Accepted Answer

P&L loans can close faster since the doc package is smaller. Bank Statement Loans take longer to underwrite with full statement review.

Question 6

Do tax write-offs hurt me on either loan?

Accepted Answer

Not on bank statements — deposits drive the income calc. On P&L loans, your net profit after expenses is what lenders use.

Bank Statement vs P&L Loans in Alameda, CA