Question 1

Who prepares the P&L statement?

Accepted Answer

A licensed CPA must prepare and sign it. Self-prepared statements are not accepted by lenders.

Question 2

Can I use a P&L if I also have W-2 income?

Accepted Answer

Yes. Some lenders blend W-2 and P&L income. That can strengthen your qualifying income significantly.

Question 3

How far back does the P&L need to go?

Accepted Answer

Most lenders require 12 or 24 months. A 24-month P&L is stronger if your income fluctuates seasonally.

Question 4

Are P&L loan rates higher than conventional?

Accepted Answer

Yes — expect a rate premium. Non-QM products carry more lender risk. Rates vary by borrower profile and market conditions.

Question 5

Do lenders verify the P&L with the IRS?

Accepted Answer

Some do, some don't. Many cross-check your P&L against 3-6 months of business bank statements instead.

Question 6

What loan amounts are available in St. Helena?

Accepted Answer

P&L loans can reach jumbo territory. Exact limits depend on your credit, down payment, and the lender.

P&L Statement Loans for St. Helena's Self-Employed