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Profit & Loss Statement Loans in Agoura Hills
Agoura Hills attracts business owners, consultants, and self-employed professionals who write off expenses aggressively. Traditional lenders reject borrowers who show minimal taxable income, even when their businesses generate solid cash flow.
P&L loans use CPA-prepared statements instead of tax returns to verify income. This works for borrowers who need to show their true earning power without the deductions that tank their tax returns.
You need a CPA to prepare a profit and loss statement covering 12-24 months of business income. The CPA must be licensed and third-party verified—no in-house accountants or DIY statements.
Most lenders require 620-640 minimum credit and 10-20% down payment. Your P&L must show consistent income that covers the mortgage payment with reasonable debt-to-income ratios.
Most conventional lenders won't touch P&L loans—they demand two years of tax returns showing sufficient income. Non-QM lenders specialize in alternative documentation and price these loans based on risk factors.
Rates run 0.5-2% higher than conventional mortgages because lenders view P&L income as less verifiable. Brokers with access to multiple non-QM lenders can shop rates and find programs that don't overcharge for this documentation method.
The biggest mistake is using an unqualified accountant. Lenders reject statements from bookkeepers, unlicensed preparers, or CPAs who lack proper credentials. Verify your CPA meets lender requirements before paying for the statement.
P&L loans make sense when your business shows strong revenue but your tax returns are destroyed by depreciation, cost of goods sold, or business expenses. If your tax returns already show solid income, stick with conventional financing—it's cheaper.
Bank statement loans pull deposits from 12-24 months of business or personal bank statements instead of requiring a CPA. That option costs less to document but typically carries higher rates than P&L programs.
1099 loans work for independent contractors who receive 1099 forms but don't file Schedule C. Asset depletion loans skip income verification entirely and qualify you based on liquid assets divided by loan term.
Agoura Hills sits in unincorporated Los Angeles County with properties ranging from Conejo Valley tract homes to custom hillside estates. Higher-priced properties push loan amounts above conforming limits, which affects non-QM pricing tiers.
Self-employed borrowers here often run consulting firms, creative businesses, or professional services from home offices. P&L loans work well when your business structure creates legitimate deductions that reduce taxable income but don't reflect actual cash flow.
No. Lenders require a licensed CPA with verifiable credentials. Statements from bookkeepers, enrolled agents, or unlicensed preparers get rejected during underwriting.
Most lenders require 12-24 months of business income documented on the P&L. Some programs accept 12 months if you show strong cash flow and solid credit.
You need at least 12 months of operating history for most P&L programs. Newer businesses may qualify with bank statement loans or alternative documentation instead.
Some lenders request tax returns to verify business existence but don't use them for income qualification. The P&L replaces tax return income analysis.
Yes, but DSCR loans often work better for investment properties. Those programs qualify you based on rental income without requiring personal income documentation.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.