Question 1

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

Accepted Answer

Some lenders allow both docs to support the same file. It depends on the lender's guidelines — not all programs permit layering.

Question 2

Do I need a CPA for a bank statement loan?

Accepted Answer

Not for income verification. But lenders usually want a CPA letter confirming you've been self-employed for at least two years.

Question 3

Which loan has lower credit score requirements?

Accepted Answer

Both are non-QM programs. Most lenders want at least a 620, though some go lower with stronger compensating factors.

Question 4

How much down payment do these loans require?

Accepted Answer

Expect 10% to 20% down minimum on most non-QM programs. Borrowers with lower credit scores typically need more down.

Question 5

What if my P&L shows a loss in one period?

Accepted Answer

One bad period can kill approval. Lenders want consistent profitability — a single down quarter raises flags on these files.

Question 6

Are these loans available for Healdsburg wine country properties?

Accepted Answer

Yes. Non-QM lenders are familiar with ag-adjacent and rural wine country properties. Appraisal complexity is the bigger hurdle.

Bank Statement vs P&L Loans: Healdsburg Self-Employed Guide