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in San Anselmo, CA
Self-employed buyers in San Anselmo have real options. Two non-QM loan types dominate: bank statement loans and P&L statement loans.
Both skip the W-2 entirely. The difference is how they prove your income — and that choice affects your rate, your docs, and your approval odds.
Bank statement loans use 12 to 24 months of deposits to calculate your income. Lenders average your deposits and apply an expense factor to get a usable number.
This works best when your deposits are consistent and well-documented. Mixing personal and business accounts, or having irregular deposit patterns, can complicate the math.
P&L loans rely on a CPA-prepared profit and loss statement instead of bank deposits. Your accountant documents your net income, and the lender uses that figure directly.
This can work in your favor if your deposits are messy but your books are clean. A strong P&L from a credentialed CPA carries real weight with non-QM lenders.
Local decision guide
Use this comparison to weigh Bank Statement Loans and Profit & Loss Statement Loans through local payment fit, eligibility, documentation, and timing before choosing a path in San Anselmo.
Self-employed buyers in San Anselmo have real options. Two non-QM loan types dominate: bank statement loans and P&L statement loans.
Both skip the W-2 entirely. The difference is how they prove your income — and that choice affects your rate, your docs, and your approval odds.
Bank statement loans use 12 to 24 months of deposits to calculate your income. Lenders average your deposits and apply an expense factor to get a usable number.
Bank statement loans demand more paperwork — up to two years of statements. P&L loans need fewer docs but require a licensed CPA to sign off on your financials.
Income calculation differs significantly. Bank statement lenders discount your deposits by an expense ratio, sometimes 50% or more. P&L loans use the net figure your CPA reports.
High-revenue businesses with lots of write-offs often do better with bank statement loans. Tax returns show low income, but deposits tell a different story.
If your CPA keeps tight books and your net income is strong, a P&L loan can be simpler. Fewer documents and a cleaner income figure — that combination moves deals faster.
No. Bank statement loans don't require a CPA. Lenders calculate income directly from your deposit history.
Yes, sole proprietors qualify. Your CPA still needs to prepare and sign the statement for lender acceptance.
Both are non-QM products with similar credit floors. Your specific lender and loan size drive the minimum score.
Bank statement loans may serve you better. They work from gross deposits, not the net figure your CPA reports.
Yes. We run both calculations before you commit. Rates vary by borrower profile and market conditions.
Timeline depends on how quickly your CPA delivers the statement. Once docs are in, non-QM closings typically mirror bank statement timelines.