Question 1

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

Accepted Answer

Yes. Most non-QM lenders require a licensed CPA's signature. A bookkeeper or self-prepared statement won't pass underwriting.

Question 2

How much income can the P&L show?

Accepted Answer

Lenders use net income from the P&L to qualify you. Higher net income means a larger loan. Your CPA's numbers drive the math.

Question 3

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

Accepted Answer

Some lenders allow 10% down on P&L loans. It depends on your credit score and the loan amount. Expect stricter terms at lower down payments.

Question 4

Are P&L loan rates higher than conventional rates?

Accepted Answer

Yes — non-QM programs carry a rate premium over conventional loans. Rates vary by borrower profile and market conditions.

Question 5

What's the difference between a P&L loan and a bank statement loan?

Accepted Answer

Bank statement loans use deposit history to calculate income. P&L loans use a CPA-prepared summary. Both skip tax returns entirely.

Question 6

Do P&L loans work for Placer County home prices?

Accepted Answer

They can. Non-QM lenders offer loan amounts that cover Placer County's price range. Your income documentation needs to support the purchase price.

P&L Loans for Self-Employed Buyers in Rocklin