Question 1

Can I apply for both and compare?

Accepted Answer

Yes. We run scenarios on both loan types before you commit. That way you see which produces a higher qualifying income.

Question 2

Does my CPA need to be local?

Accepted Answer

No. The CPA just needs an active license. Location doesn't matter — credentials and methodology do.

Question 3

Which loan has lower rates?

Accepted Answer

Rates vary by borrower profile and market conditions. Neither loan type is consistently cheaper — lender overlays determine the spread.

Question 4

What credit score do I need?

Accepted Answer

Most lenders want at least 620 to 640. Some Non-QM lenders go lower depending on loan size and down payment.

Question 5

How far back does my P&L need to go?

Accepted Answer

Most lenders require 12 to 24 months. Your CPA prepares the statement to match the lender's required period.

Question 6

Do these loans work for Visalia rental property purchases?

Accepted Answer

They can, but investment properties carry different guidelines. A DSCR loan may be a better fit for rental income scenarios.

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