Question 1

Can I use my own CPA for P&L statement certification?

Accepted Answer

Yes, if they're licensed and not related to you. The CPA cannot be your employee or family member. Most lenders require the accountant's license number and credentials.

Question 2

How far back does my P&L statement need to go?

Accepted Answer

Most lenders require 12-24 months of certified statements. Newer businesses with 12 months history qualify but typically face higher rates and down payment requirements.

Question 3

Do P&L loans work for investment properties in Mission Viejo?

Accepted Answer

Some lenders allow P&L documentation for investment properties. DSCR loans often work better for rentals since they don't require personal income verification.

Question 4

What if my P&L shows profit but my tax returns show losses?

Accepted Answer

That's exactly why these loans exist. Lenders use the P&L income only. Your tax returns aren't part of the qualification process.

Question 5

Are P&L loan rates negotiable in Mission Viejo?

Accepted Answer

Rates vary by borrower profile and market conditions. Stronger credit, larger down payments, and lower loan amounts get better pricing across lenders.

P&L Statement Loans in Mission Viejo: Self-Employed Financing Without Tax Returns