Short answer
What underwriters expect on a CPA-prepared P&L.
P&Ls should be prepared or attested by a licensed CPA or tax preparer, covering the year-to-date period.
Format and preparer
P&Ls should be prepared or attested by a licensed CPA or tax preparer, covering the year-to-date period.
Consistency with bank activity
Deposits shown in bank statements should broadly match the revenue reported on the P&L.
Key takeaways
- Third-party prepared P&Ls are the standard.
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Sources
Program rules change and individual lender overlays apply. Verify specifics with the agency or with a licensed NexGen Capital advisor before relying on them.
Reviewed by NexGen Capital Corp
Written and reviewed by the licensed mortgage team at NexGen Capital Corp, a Florida mortgage brokerage (NMLS #1766649). Verify our license on NMLS Consumer Access.
Last reviewed: 2026
This article is educational and is not a commitment to lend or an offer of credit. Speak with a licensed NexGen advisor about your own situation.