Question 1

Do both loans require a CPA?

Accepted Answer

P&L loans require a CPA-prepared statement. Bank Statement loans do not — your bank records are the documentation.

Question 2

Which loan has stricter credit requirements?

Accepted Answer

Requirements vary by lender. Both are non-QM, so credit flexibility exists. Rates vary by borrower profile and market conditions.

Question 3

Can I use personal bank statements instead of business?

Accepted Answer

Many lenders accept either. Some prefer business accounts for cleaner income separation. We'll check what each lender allows.

Question 4

How many months of P&L does a lender need?

Accepted Answer

Most lenders want a 12-month CPA-prepared P&L. Some require it to cover the current year-to-date period.

Question 5

Can I qualify for more with one loan over the other?

Accepted Answer

Yes — qualifying income can differ significantly between the two. We run both calculations before recommending a path.

Question 6

Are these loan types available in Tulare County?

Accepted Answer

Yes. As of April 2026, we have access to non-QM lenders actively lending in Tulare County, including Lindsay.

Bank Statement vs P&L Loans in Lindsay, CA