Question 1

Can I apply for both and compare?

Accepted Answer

Yes. We run your numbers under both programs before you commit. That's how you find the higher qualifying amount.

Question 2

Who prepares the P&L statement?

Accepted Answer

A licensed CPA must sign it. A self-prepared P&L won't be accepted by any lender on this program.

Question 3

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months. Some allow 24 months to smooth out slow periods and boost qualifying income.

Question 4

Do these loans cover Napa County property values?

Accepted Answer

Non-QM lenders set their own loan limits. St. Helena price points are manageable for most non-QM programs we access.

Question 5

Which loan closes faster?

Accepted Answer

P&L loans typically close faster — one income document versus months of statement review. Clean books speed things up.

Question 6

What credit score do I need for either loan?

Accepted Answer

Most non-QM lenders want 660 or higher. Some go to 640 with stronger assets or a larger down payment.

Bank Statement vs P&L Loans in St. Helena