Question 1

Who prepares the P&L for this loan?

Accepted Answer

A licensed CPA or tax professional must prepare and sign it. Your bookkeeper alone typically won't satisfy lender requirements.

Question 2

Do I still need tax returns?

Accepted Answer

Most P&L loan programs don't require tax returns. That's the core advantage for self-employed borrowers with heavy write-offs.

Question 3

How much can I borrow in Campbell?

Accepted Answer

Loan amounts depend on your verified P&L income and down payment. Non-QM lenders set their own limits — some go into jumbo territory.

Question 4

Will my rate be higher than a conventional loan?

Accepted Answer

Yes. P&L loans carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.

Question 5

Can I use a P&L if my business was recently profitable?

Accepted Answer

Lenders want at least 2 years of business history. Recent profitability helps, but a short track record raises underwriting red flags.

Question 6

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

Accepted Answer

Most non-QM lenders require 680 or higher. A stronger score improves your rate and may expand your lender options.

P&L Statement Loans for Self-Employed Buyers in Campbell