Loading
in Dixon, CA
Most Dixon self-employed borrowers can't qualify with tax returns. These two non-QM loans exist for exactly that situation.
Both skip traditional income verification. The difference is how they prove what you actually earn.
Bank statement loans use 12 to 24 months of your deposits to calculate income. Lenders average those deposits and back out an expense ratio.
You control the narrative with your own records. No CPA sign-off required — just consistent, documented cash flow.
P&L loans use a CPA-prepared profit and loss statement — typically covering 12 to 24 months. The CPA certifies your net income directly.
This works well when deposits are messy or inconsistent. A clean P&L can show stronger income than raw bank activity.
Local decision guide
Use this comparison to weigh Bank Statement Loans and Profit & Loss Statement Loans through local payment fit, eligibility, documentation, and timing before choosing a path in Dixon.
Most Dixon self-employed borrowers can't qualify with tax returns. These two non-QM loans exist for exactly that situation.
Both skip traditional income verification. The difference is how they prove what you actually earn.
Bank statement loans use 12 to 24 months of your deposits to calculate income. Lenders average those deposits and back out an expense ratio.
Bank statement loans require more paperwork from you. P&L loans shift that burden to your CPA — which costs money but can cut your doc load.
Lenders treat these differently on rate and risk. Bank statement loans are more widely available. P&L-only programs come from a narrower pool of lenders.
If your business runs through a clear bank account with steady deposits, go bank statement. It's simpler and lenders have seen it a thousand times.
If your cash flow is lumpy or your CPA already tracks detailed P&L records, the P&L route might show stronger income with less friction.
Some lenders allow it. Combining both can strengthen your file, especially when deposits alone don't fully reflect income.
Most lenders require proof of self-employment — a business license or CPA letter typically satisfies that. Requirements vary by lender.
Neither is dramatically cheaper than the other. Both are non-QM products priced above conventional. Rates vary by borrower profile and market conditions.
Most lenders want a P&L dated within 60 days of application. Your CPA needs to sign and certify it.
Most non-QM lenders want at least a 620, though some go lower with compensating factors. Higher scores get better pricing.
Yes. These are purchase and refinance eligible. Dixon falls within Solano County, and non-QM lenders operate statewide in California.