Question 1

Who prepares the P&L statement?

Accepted Answer

A licensed CPA must prepare and sign it. Self-prepared statements are not accepted by lenders.

Question 2

Do I need tax returns for a P&L loan?

Accepted Answer

No. That's the point. Tax returns are not required — your CPA-prepared P&L replaces them.

Question 3

How much can I borrow with a P&L loan in Sunnyvale?

Accepted Answer

Loan limits vary by lender and your income picture. Some non-QM lenders go well into jumbo range. Rates vary by borrower profile and market conditions.

Question 4

What credit score do I need?

Accepted Answer

Most P&L lenders want at least a 620, though some require higher. Better scores get better pricing.

Question 5

Can I use a P&L loan to buy an investment property?

Accepted Answer

Some non-QM lenders allow it. A DSCR loan may be a cleaner fit for investment purchases — worth comparing both.

Question 6

How long does it take to close a P&L loan?

Accepted Answer

Non-QM loans typically close in 21–30 days. Having a clean P&L and full documentation ready speeds the process.

P&L Statement Loans for Sunnyvale's Self-Employed