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Gridley sits in Butte County's agricultural corridor. Many residents here run small farms, contracting businesses, or seasonal operations.
Standard loan programs demand W-2s and tax returns. For self-employed borrowers, those documents often understate real income.
620+
Min Credit Score
CPA P&L Statement
Income Doc
10–20%
Down Payment
12–24 Months
P&L History Needed
Profit & Loss Statement Loans in Gridley
A licensed CPA prepares a 12- or 24-month profit and loss statement. Lenders use that to calculate your qualifying income.
Most lenders want a 620+ credit score. Expect a 10–20% down payment depending on your credit profile and loan size.
P&L loans are non-QM products. Most local banks and credit unions don't offer them — you need a wholesale lender channel.
We work with 200+ wholesale lenders at SRK CAPITAL. That means real options, not just whatever one bank happens to carry.
The CPA relationship is critical. A sloppy P&L gets kicked back fast. Your accountant needs to know this document is going to a lender.
Some borrowers qualify with just one year of P&L. Others need two. The cleaner your books, the more options you have.
Bank statement loans are the closest alternative. They use 12–24 months of deposits instead of a P&L — no CPA required.
If you write off heavily, bank statements may show stronger income than your P&L. We run both and see which qualifies you for more.
Gridley has a strong base of small business owners in agriculture, trucking, and trades. P&L loans were built for exactly this borrower profile.
Butte County purchase prices tend to stay well below California's jumbo thresholds. P&L loans here usually fall into conforming loan size ranges.
Most lenders require a licensed CPA signature. A bookkeeper or self-prepared statement will be rejected.
Yes, but a DSCR loan often works better for rentals. The property's rent income drives qualification instead of your personal income.
Most P&L lenders require at least two years of self-employment. Some will consider one year with a strong overall file.
Yes, non-QM loans carry a rate premium over conventional. Rates vary by borrower profile and market conditions.
Lenders may average both years or use the lower year. A declining income trend raises flags — your broker needs to address it upfront.