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Maricopa sits in southern Kern County — oil country, agriculture, small business territory. A lot of earners here don't fit the W-2 mold.
P&L loans exist for exactly that reason. Your CPA prepares the statement. The lender uses it to verify income. No tax returns needed.
660+
Min Credit Score
CPA P&L Statement
Income Doc
10–20%
Down Payment
12–24 Months
P&L History
3–6 Months
Reserves Required
Profit & Loss Statement Loans in Maricopa
You'll need a CPA or licensed tax professional to prepare a 12- or 24-month P&L. The lender uses that document — not your 1040 — to calculate income.
Most lenders want a 660+ credit score and 10–20% down. Reserves matter too. Expect lenders to ask for 3–6 months of liquid assets.
P&L loans are non-QM products. Your local bank almost certainly doesn't offer them. You need a broker with access to specialty wholesale lenders.
Rate spreads across non-QM lenders vary significantly. One lender might price your file a full point higher than another for the same borrower. Shopping matters.
The most common mistake I see: borrowers submit a P&L their CPA drafted in a day without a balance sheet attached. Many lenders reject that file immediately.
A strong P&L loan file pairs clean bookkeeping with a well-documented business narrative. Lenders want to see the business is real and sustainable.
Bank statement loans use 12–24 months of deposits to calculate income. P&L loans skip that and rely on your accountant's prepared figures instead.
If your business expenses are high relative to deposits, a P&L loan may show stronger income than bank statements. Run both scenarios before committing.
Kern County has a dense concentration of independent contractors, farm operators, and oil-field business owners. Many write off heavily, crushing taxable income.
That write-off problem is exactly why P&L loans exist. Your tax return says you made $40K. Your P&L can tell a different — and more accurate — story.
A licensed CPA or tax professional must prepare it. Self-prepared statements are not accepted by lenders.
Some lenders accept 12 months. Others require 24. Shorter history typically means stricter terms or higher rates. Rates vary by borrower profile and market conditions.
Most P&L loan programs don't require tax returns. That's the core advantage over conventional income verification.
If you write off heavily and your 1040 understates your income, it's a strong option. Talk to a broker who can compare it against bank statement alternatives.
Non-QM lenders tier pricing heavily by credit score. A 720 will get a meaningfully better rate than a 660. Rates vary by borrower profile and market conditions.
Yes. They are non-QM loans, meaning they don't follow Fannie Mae guidelines. But they are fully legal and regulated lending products.