Question 1

Can I apply for both loan types at once?

Accepted Answer

You can run both scenarios with us. We'll show you which one qualifies you for more before you choose.

Question 2

How far back do bank statements need to go?

Accepted Answer

Most lenders want 12 months minimum. Some require 24 months for stronger qualification or lower rates.

Question 3

Does my CPA need to be licensed for a P&L loan?

Accepted Answer

Yes. Lenders require a CPA-prepared and signed statement. A bookkeeper or self-prepared P&L won't be accepted.

Question 4

Which loan typically has a lower rate?

Accepted Answer

Bank statement loans are more common, so competition keeps rates tighter. Rates vary by borrower profile and market conditions.

Question 5

Are these loans available for Lemoore properties?

Accepted Answer

Yes. Both programs are available through our wholesale lender network for Kings County properties.

Question 6

What credit score do I need for either program?

Accepted Answer

Most non-QM lenders want at least a 620. Stronger scores get better rates on both loan types.

Bank Statement vs P&L Loans in Lemoore, CA