Question 1

Who prepares the P&L statement for this loan?

Accepted Answer

A licensed CPA or enrolled agent must prepare it. Self-prepared statements are not accepted by any lender we work with.

Question 2

Can I use a P&L loan for a vacation rental in Healdsburg?

Accepted Answer

Yes. P&L loans are non-QM and don't require the property to be owner-occupied. Investor purchases are eligible.

Question 3

How is my income calculated from the P&L?

Accepted Answer

Lenders use net income shown on the statement. Some lenders average 12 months, others use 24 — that choice matters.

Question 4

Are P&L loan rates higher than conventional rates?

Accepted Answer

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

Question 5

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

Accepted Answer

Most P&L lenders don't require tax returns. That's the point — your write-offs don't work against you.

Question 6

What's the minimum down payment in Sonoma County?

Accepted Answer

Expect 20–30% down on most P&L loans. Higher down payments can offset a lower credit score with some lenders.

P&L Statement Loans for Healdsburg's Self-Employed Buyers