Question 1

Does my CPA have to be local to Marysville?

Accepted Answer

No. Any licensed CPA can prepare the statement. They just need an active CPA license — location doesn't matter.

Question 2

Can I use a P&L loan to buy in Yuba County?

Accepted Answer

Yes. P&L loans work for purchases and refinances in Marysville and throughout Yuba County.

Question 3

What if my P&L shows a loss in one year?

Accepted Answer

A single down year can hurt. Lenders look at the trend. Two years of strong profit helps overcome a rough patch.

Question 4

How is qualifying income calculated from a P&L?

Accepted Answer

Lenders typically use net profit, sometimes with add-backs for depreciation. Each lender has its own calculation method.

Question 5

Are P&L loan rates higher than conventional rates?

Accepted Answer

Yes. Non-QM products carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.

Question 6

Can I also provide bank statements to strengthen my file?

Accepted Answer

Some lenders allow both. A broker can layer documentation to build the strongest possible case for approval.

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