Question 1

Does my CPA have to sign the P&L statement?

Accepted Answer

Yes. Most lenders require a licensed CPA's signature and credentials on the statement. A bookkeeper or self-prepared P&L won't be accepted.

Question 2

Can I use a P&L loan to buy in Salinas with 10% down?

Accepted Answer

Some lenders allow 10% down on P&L loans. Credit score and loan size affect the minimum — stronger credit usually means lower down payment required.

Question 3

How is my income calculated from the P&L?

Accepted Answer

Lenders typically average your net income over 12 or 24 months. Some use gross revenue with an expense factor instead — it depends on the lender.

Question 4

Are P&L loan rates higher than conventional rates?

Accepted Answer

Yes. Non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions — shopping lenders makes a real difference.

Question 5

What if my P&L shows a loss in one year?

Accepted Answer

A single down year isn't always a dealbreaker. Lenders look at the full picture — a 24-month P&L with a strong recent year can still work.

Question 6

Do P&L loans work for Salinas farm owners?

Accepted Answer

Yes — this is one of the strongest use cases. Agricultural business owners with high gross revenue but heavy write-offs are exactly who this loan serves.

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