Question 1

Do both loans require a CPA?

Accepted Answer

P&L loans require a CPA-prepared statement. Bank statement loans do not — your deposit history does the work.

Question 2

Which loan shows more income?

Accepted Answer

It depends on your business. We run both calculations before recommending one. Rates vary by borrower profile and market conditions.

Question 3

Can I use personal bank statements?

Accepted Answer

Some lenders allow it for bank statement loans. Most prefer business accounts. Mixing deposits can reduce your qualifying income.

Question 4

How many months of P&L does a lender need?

Accepted Answer

Most lenders want 12 to 24 months covered in the CPA statement. Requirements vary by lender and loan size.

Question 5

Are rates higher on P&L loans vs bank statement loans?

Accepted Answer

Both carry non-QM pricing, which runs above conventional rates. Rates vary by borrower profile and market conditions.

Question 6

Can I switch from one to the other mid-process?

Accepted Answer

Yes, but it resets underwriting. Decide early. We help you pick the right path before you submit anything.

Bank Statement vs P&L Loans in Aliso Viejo