Question 1

Can I use both bank statements and a P&L together?

Accepted Answer

Some lenders accept both to strengthen your file. Ask your broker which combination gives you the best qualifying income.

Question 2

Does my CPA need special credentials for a P&L loan?

Accepted Answer

Yes — the P&L must be prepared by a licensed CPA or tax professional. A self-prepared statement won't be accepted.

Question 3

Which loan has the lower interest rate?

Accepted Answer

Bank statement loans typically price lower than P&L loans. Rates vary by borrower profile and market conditions.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders want 12 months minimum. Some require 24 for better income averaging or higher loan amounts.

Question 5

Are these loans available for Vallejo investment properties?

Accepted Answer

Yes. Both loan types can be used for primary residences and investment properties in Vallejo and Solano County.

Question 6

What credit score do I need for these non-QM loans?

Accepted Answer

Most lenders start at 620 to 640 for both programs. Stronger scores improve your rate and max loan amount.

Bank Statement vs P&L Loans in Vallejo: Which Fits Your Business?