Question 1

Does my CPA need to use a specific format?

Accepted Answer

No standard template is required. But the CPA must sign it and include their license number. Lenders verify authenticity.

Question 2

Can I use a 12-month P&L instead of 24?

Accepted Answer

Yes, many lenders accept 12 months. Rates and LTV limits may be tighter on the shorter window.

Question 3

Will my tax write-offs hurt me here?

Accepted Answer

Less than on a conventional loan. Lenders use P&L net income, not your tax return. Heavy deductions matter less.

Question 4

What credit score do I need for a P&L loan in Arroyo Grande?

Accepted Answer

Most non-QM lenders want 680 or above. Some go to 660 with more down. Below that, options narrow fast.

Question 5

How long does the P&L loan process take?

Accepted Answer

Similar to conventional — roughly 21-30 days if your CPA delivers documents quickly. Delays usually start with documentation.

P&L Loans for Self-Employed Buyers in Arroyo Grande