Question 1

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

Accepted Answer

Some lenders allow both. We shop across 200+ wholesale lenders to find who accepts your specific combo.

Question 2

Does my CPA need special certification for a P&L loan?

Accepted Answer

They must be a licensed CPA. An in-house bookkeeper or tax preparer won't qualify — lenders will reject it.

Question 3

Which loan type has better rates?

Accepted Answer

Rates vary by borrower profile and market conditions. Bank statement loans are generally more common, so pricing is often more competitive.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some non-QM programs require 24 months for the best rate tier.

Question 5

Do these loans work for Marin County home prices?

Accepted Answer

Yes. Non-QM lenders often go well above conforming limits. Marin's prices require it.

Question 6

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want 660 or higher. Some programs go lower with a larger down payment.

Bank Statement vs P&L Loans: Which Fits Your Fairfax Deal?