Question 1

Can I qualify for both loan types?

Accepted Answer

Yes, many borrowers qualify for both. We run both scenarios and show you which produces the higher income and better terms.

Question 2

Does the P&L need to be CPA-prepared?

Accepted Answer

Yes. Lenders require a licensed CPA or tax professional to prepare it. Self-prepared P&Ls are not accepted.

Question 3

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 months minimum. Some require 24. Business accounts are preferred over personal accounts.

Question 4

Do these loans show up on my credit?

Accepted Answer

Yes. Both are real mortgages that report to credit bureaus. They are not hard-money or private loans.

Question 5

Which loan type has better rates?

Accepted Answer

Bank statement loans typically price better due to the larger lender pool. Rates vary by borrower profile and market conditions.

Question 6

Are these loans available in Colton, CA?

Accepted Answer

Yes. We work with 200+ wholesale lenders and have access to both products for San Bernardino County borrowers.

Bank Statement vs P&L Loans in Colton, CA