Question 1

Who prepares the P&L statement for this loan?

Accepted Answer

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

Question 2

Do I need two years of P&L statements?

Accepted Answer

Some lenders accept 12 months. Others want 24. A longer history usually gets you better terms.

Question 3

How is my income calculated from the P&L?

Accepted Answer

Lenders use the net income figure on the P&L. They don't add back depreciation the way some bank statement lenders do.

Question 4

Can I get a jumbo loan with a P&L in Hayward?

Accepted Answer

Yes. Non-QM P&L loans can go well above conforming limits, which matters in Alameda County's price range.

Question 5

What's the minimum credit score for a P&L loan?

Accepted Answer

Most lenders start at 680. Some go lower but rate pricing gets worse fast below that threshold.

Question 6

Are P&L loan rates higher than conventional rates?

Accepted Answer

Yes — non-QM loans carry a rate premium. Rates vary by borrower profile and market conditions.

P&L Statement Loans for Self-Employed Buyers in Hayward