Question 1

Who prepares the P&L statement for this loan?

Accepted Answer

A licensed CPA or tax professional must prepare it. Self-prepared statements are rejected by every lender offering this product.

Question 2

Can I use a P&L loan to buy in Livermore without tax returns?

Accepted Answer

Yes. That's the entire point of this loan. No tax returns are required — your CPA-prepared P&L replaces them.

Question 3

How much can I borrow with a P&L loan in Alameda County?

Accepted Answer

Loan amounts vary by lender and borrower profile. Many non-QM lenders go up to $3M or higher for qualified borrowers. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need for a P&L loan?

Accepted Answer

Most lenders require 680 minimum. Some go down to 660 with a larger down payment. Higher scores get meaningfully better pricing.

Question 5

How long does my business need to be operating?

Accepted Answer

Lenders typically require at least 2 years in business. They want to see the business is established, not a brand-new operation.

Question 6

Does my P&L need to match my bank statements?

Accepted Answer

Yes. Lenders cross-reference your P&L against bank deposits. Discrepancies kill deals — get your CPA and your statements aligned before applying.

P&L Statement Loans for Livermore's Self-Employed