Question 1

Can I use personal bank statements instead of business?

Accepted Answer

Yes. Many lenders accept personal accounts. Business accounts may require an expense ratio adjustment to calculate income.

Question 2

Who can prepare my P&L statement?

Accepted Answer

It must be CPA-prepared. Self-prepared P&L statements are not accepted by lenders on this program.

Question 3

Which loan type has stricter credit requirements?

Accepted Answer

Both are non-QM loans with flexible guidelines. Credit minimums vary by lender — we shop across 200+ wholesale lenders to find your best fit.

Question 4

Can I use both loan types to compare offers?

Accepted Answer

Absolutely. We run your file through both scenarios. You pick whichever approval gives you better terms.

Question 5

Do these loans work for San Bernardino investment properties?

Accepted Answer

Yes. Both loan types can finance primary residences and investment properties. Requirements differ by occupancy type.

Question 6

How long does it take to close these loans?

Accepted Answer

P&L Loans often close faster due to simpler documentation. Bank Statement Loans take longer to review but are widely available.

Bank Statement vs P&L Loans in San Bernardino