Question 1

Can I qualify for both loan types at once?

Accepted Answer

You can apply for either, but lenders pick one income method. We'll run your numbers both ways to find the stronger qualifying scenario.

Question 2

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

Accepted Answer

Yes. Lenders require a CPA-prepared statement. A bookkeeper or tax preparer won't satisfy the requirement.

Question 3

How many months of bank statements do lenders want?

Accepted Answer

Most lenders want 12 months minimum. Some require 24. Longer history often means better pricing.

Question 4

Are these loans available in Isleton specifically?

Accepted Answer

Yes. Non-QM lenders cover all of Sacramento County. Property type and loan amount matter more than city size.

Question 5

Which loan has a higher minimum credit score?

Accepted Answer

Requirements vary by lender. P&L loans sometimes carry slightly stricter score requirements. We shop 200+ wholesale lenders to find the best fit.

Question 6

Do both loan types require a down payment?

Accepted Answer

Yes. Both are non-QM and require a down payment. Minimums vary by lender, loan size, and credit profile.

Bank Statement vs P&L Loans in Isleton