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in Highland, CA
Self-employed buyers in Highland can't always use tax returns. These two non-QM loans solve that problem differently.
One uses your bank deposits. The other uses a CPA's income summary. Your business structure usually decides which works.
Bank Statement Loans let lenders calculate your income from 12 to 24 months of deposits. No tax returns required.
Lenders typically apply an expense ratio to your deposits to arrive at qualifying income. Higher deposit volume works in your favor.
P&L Statement Loans use a CPA-prepared profit and loss summary to verify income. No bank statements needed.
Lenders typically want a 12 to 24 month P&L signed by a licensed CPA. It must reflect your actual business income.
Bank Statement Loans reward high deposit volume. P&L Loans reward clean accounting and a trusted CPA relationship.
If your business writes off most expenses on taxes but runs strong deposits, Bank Statement often qualifies you higher. If deposits are messy but your CPA tracks net income carefully, P&L is cleaner.
Contractors, consultants, and freelancers with high cash flow usually do better on Bank Statement. Your deposits tell the income story.
Business owners with strong bookkeeping and a solid CPA often qualify faster on P&L. Fewer pages to pull together.
Yes. Many lenders accept personal accounts. Business accounts work too. The lender applies a different expense ratio to each.
No. Your CPA just needs a valid license. They sign and prepare the statement — location doesn't matter to lenders.
Rates vary by borrower profile and market conditions. Neither is consistently cheaper. Your credit and down payment drive the difference.
Yes. SRK CAPITAL can run both scenarios. We compare qualifying income under each method before you pick.
Both programs can work for investment purchases. Lender overlays vary, and rates for investment properties are typically higher.
Most non-QM lenders want at least a 620 score. Some go lower with a larger down payment.