Question 1

Does my CPA have to be local to Gustine?

Accepted Answer

No. Your CPA just needs a valid license. Lenders verify credentials, not location.

Question 2

Can I use one year of P&L instead of two?

Accepted Answer

Some lenders allow 12-month P&L statements. Expect stricter terms and higher rates on shorter documentation periods.

Question 3

Will my tax write-offs hurt my P&L loan?

Accepted Answer

Less than they'd hurt a conventional loan. The P&L shows gross business income before personal tax strategy affects it.

Question 4

How are P&L loan rates compared to conventional?

Accepted Answer

P&L loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 5

What if my business is less than two years old?

Accepted Answer

Most lenders won't approve P&L loans under two years of history. A few exceptions exist — ask us about alternatives.

Question 6

Can I buy a farm or agricultural property with this loan?

Accepted Answer

It depends on the property type and acreage. Some non-QM lenders restrict rural or agricultural classifications.

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