Question 1

Who prepares the P&L statement?

Accepted Answer

A licensed CPA or enrolled agent must prepare and sign it. A bookkeeper or self-prepared P&L won't be accepted by most lenders.

Question 2

Can I use one year of P&L?

Accepted Answer

Some lenders allow 12 months. The lender pool is smaller and rates may be higher. Two years gets you better options.

Question 3

How is income calculated from the P&L?

Accepted Answer

Lenders use your net profit from the P&L. High write-downs that reduce taxable income won't hurt you here the way they do on a conventional loan.

Question 4

What credit score do I need in Beaumont?

Accepted Answer

Most P&L lenders want 680 or above. Some go down to 660 with a larger down payment. Below that, options get very thin.

Question 5

Is a P&L loan harder to get than a bank statement loan?

Accepted Answer

Not harder — just different. P&L works better when your net profit is strong. We compare both before recommending one.

Question 6

Are P&L loans available for investment properties in Beaumont?

Accepted Answer

Yes. Some borrowers use P&L to buy rentals in the Inland Empire. Down payment requirements are typically higher for investment properties.

P&L Loans for Self-Employed Buyers in Beaumont, CA