Question 1

How far back do P&L statements need to go?

Accepted Answer

Most lenders want 12-24 months. Two years of consistent profit strengthens your file, but some programs accept one year if your business is established.

Question 2

Can I use QuickBooks reports instead of CPA statements?

Accepted Answer

No. Lenders require a licensed CPA to prepare and sign your P&L. Self-prepared reports from accounting software don't meet underwriting standards.

Question 3

What if my business is seasonal in Petaluma?

Accepted Answer

Some lenders average seasonal income smoothly. Others penalize uneven cash flow. We match you to lenders who understand cyclical business models common in Sonoma County.

Question 4

Do P&L loans work for newly self-employed borrowers?

Accepted Answer

You need established business history. Most programs require 2+ years of self-employment, proven through business licenses and tax filings showing business activity.

Question 5

How do rates compare to conventional Petaluma mortgages?

Accepted Answer

Expect 1-2 percentage points higher than conventional rates. Rates vary by borrower profile and market conditions. Stronger credit and larger down payments earn better pricing.

P&L Statement Loans in Petaluma — Self-Employed Income Without Tax Returns