Question 1

Do I need a CPA for a Bank Statement Loan?

Accepted Answer

No CPA required for bank statement loans. You provide statements directly. A P&L Loan is the one that requires CPA preparation.

Question 2

Can I use personal bank statements?

Accepted Answer

Yes, most lenders accept personal or business accounts. Business accounts usually get a higher expense factor applied to deposits.

Question 3

Which loan has stricter credit requirements?

Accepted Answer

Both are Non-QM, so requirements vary by lender. We shop across 200+ wholesale lenders to find the best fit for your score.

Question 4

How far back do lenders look for income?

Accepted Answer

Most lenders want 12 to 24 months for both programs. Longer history generally strengthens your file.

Question 5

Can I switch between these programs mid-process?

Accepted Answer

Yes, but it resets parts of underwriting. It's better to choose the right program upfront — that's what we help you do.

Question 6

Are these loans available in Porterville specifically?

Accepted Answer

Yes. Non-QM lenders lend statewide in California. Porterville and Tulare County properties are eligible under both programs.

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