Question 1

Who prepares the P&L for this loan?

Accepted Answer

A licensed CPA or tax professional must prepare and sign it. A self-prepared P&L won't be accepted by lenders.

Question 2

Can I use a P&L loan to buy in Dublin with less than 20% down?

Accepted Answer

Some lenders allow 10% down on P&L loans. Expect stricter rate and reserve requirements at lower down payments.

Question 3

What credit score do P&L lenders require?

Accepted Answer

Most Non-QM lenders want 680 or higher. A lower score narrows your lender options significantly.

Question 4

How recent does my P&L statement need to be?

Accepted Answer

Most lenders require a P&L dated within 60 days of application. Stale statements are a common reason for delays.

Question 5

Do P&L loans work for LLC or S-corp owners in Dublin?

Accepted Answer

Yes. Business owners with pass-through income are a strong fit. Your CPA will need to document the business structure.

Question 6

Are P&L loan rates higher than conventional rates?

Accepted Answer

Yes — Non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.

P&L Statement Loans for Self-Employed Buyers in Dublin, CA