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Brawley runs on agriculture, small business, and trade. A lot of income here doesn't show up clean on a tax return.
P&L loans exist for exactly this situation. A CPA prepares your profit and loss statement, and that document becomes your income verification.
640–680
Min Credit Score
CPA-Signed P&L
Income Doc Type
12 or 24 Months
P&L Period
10–20%
Min Down Payment
Your CPA prepares a 12- or 24-month P&L statement. Lenders use that to calculate your qualifying income.
Expect a minimum 640-680 credit score. Down payments typically start at 10-20%, and reserves matter more here than on conventional loans.
Most banks won't touch P&L loans. This is a non-QM product, which means you need a wholesale lender that specializes in it.
SRK CAPITAL works with 200+ wholesale lenders. Several of them compete hard on P&L products. That competition is how you get a better rate.
The biggest mistake I see: borrowers hand over a P&L their bookkeeper threw together. Lenders reject those fast.
Your CPA needs to sign and date the statement. It should clearly show gross revenue, expenses, and net income by month. Sloppy documentation kills deals.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your CPA's summary instead.
If your deposits are inconsistent but your business is profitable, the P&L route often produces a higher qualifying income. Run both scenarios before choosing.
Imperial County has a high concentration of farm owners, contractors, and cross-border business operators. These borrowers almost never qualify with W-2s alone.
P&L loans are one of the few products that actually fit the Brawley borrower profile. The key is finding a lender who understands seasonal and agricultural income patterns.
A licensed CPA must prepare and sign it. A bookkeeper or self-prepared statement won't be accepted.
Some lenders accept 12 months. Others require 24. Twelve-month options usually come with stricter credit or down payment requirements.
Yes. Non-QM products carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
A loss year on your P&L will likely disqualify you. Lenders need to see consistent profitability across the statement period.
Yes. Many non-QM lenders allow P&L qualification on investment properties. Expect a larger down payment requirement.
Profit & Loss Statement Loans in Brawley