Question 1

Can I use both bank statements and a P&L together?

Accepted Answer

Some lenders allow it. Combining both can strengthen your file, especially if deposits are inconsistent but your P&L shows solid net income.

Question 2

Does my CPA need to certify the P&L statement?

Accepted Answer

Yes. Lenders require a licensed CPA to prepare and sign it. Self-prepared P&L statements are not accepted.

Question 3

Which loan type has lower rates?

Accepted Answer

Bank statement loans typically offer more competitive rates due to wider lender access. Rates vary by borrower profile and market conditions.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 months minimum. 24 months gives you more options and often better pricing.

Question 5

Can I qualify with international or cross-border income?

Accepted Answer

It depends on the lender. Some non-QM lenders in our network handle cross-border income — we match you to the right one.

Question 6

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want a 620 minimum. Stronger scores open up better rates on both bank statement and P&L programs.

Bank Statement vs P&L Loans in Calexico: Which Fits Your Business?