Question 1

Can I apply for both loan types at once?

Accepted Answer

You can be evaluated for both. We run the numbers on each option and show you which one qualifies you for more.

Question 2

Do bank statement loans cost more than P&L loans?

Accepted Answer

Rates vary by borrower profile and market conditions. Neither is always cheaper — lender pricing depends on your credit, down payment, and loan size.

Question 3

Does my CPA need to be licensed in California?

Accepted Answer

Yes. Most lenders require a California-licensed CPA to sign the P&L. An out-of-state preparer usually won't work.

Question 4

How many months of bank statements do I need?

Accepted Answer

Most lenders require 12 months minimum. Some want 24 months for a stronger income average — especially on larger loan amounts.

Question 5

What credit score do these loans require?

Accepted Answer

Most non-QM lenders start at 620 to 640. Higher scores get better pricing on both bank statement and P&L programs.

Question 6

Which loan works better for Tulare County ag business owners?

Accepted Answer

It depends on your deposit pattern. Seasonal ag income often qualifies better through a P&L — your CPA can show annual net profit more clearly.

Bank Statement vs P&L Loans for Dinuba's Self-Employed