Question 1

Can I qualify for both loan types at once?

Accepted Answer

You can apply for either, but not both simultaneously for the same property. We help you pick the stronger option before you apply.

Question 2

Do I need a CPA for a Bank Statement Loan?

Accepted Answer

No CPA required for Bank Statement Loans. You just provide 12 to 24 months of bank statements directly to the lender.

Question 3

How recent does my P&L statement need to be?

Accepted Answer

Most lenders want a P&L covering the past 12 months, prepared and signed by a licensed CPA. Older statements usually won't qualify.

Question 4

Which loan has lower rates in Hanford?

Accepted Answer

Rates vary by borrower profile and market conditions. Neither program is consistently cheaper — your credit score and down payment matter more.

Question 5

What credit score do these loans require?

Accepted Answer

Most non-QM lenders want at least a 620 score for both programs. Higher scores get better pricing on either loan type.

Question 6

Are these loans available for investment properties in Kings County?

Accepted Answer

Yes. Both programs can be used for investment properties. Down payment requirements are typically higher for non-owner-occupied deals.

Bank Statement vs P&L Loans: Hanford Self-Employed Buyers