Loading
Profit & Loss Statement Loans in Bradbury
Bradbury's estate-sized properties attract successful entrepreneurs who write off significant business expenses. Traditional mortgage underwriting penalizes these tax strategies by using net income from tax returns.
P&L statement loans solve this by letting CPAs certify your business income without IRS documentation. Most Bradbury buyers use these for properties where conventional loan limits don't apply.
You need two years of self-employment history in the same business. Your CPA must be licensed and prepare a profit and loss statement covering 12 or 24 months.
Most lenders want 680 minimum credit and 20% down. Rates run 1-2 points above conventional, and you'll pay for a CPA letter even if you already filed taxes.
About 30 of our 200+ wholesale lenders offer P&L programs. Each has different CPA requirements and income calculation methods. Some average your P&L over two years while others use trailing twelve months.
We see the widest rate spreads on these loans because underwriting is manual. The lender comfortable with your business structure prices 50-75 basis points better than one that isn't.
Get your CPA involved early. We've seen deals collapse because the CPA used cash basis accounting when the lender required accrual, or formatted the P&L wrong.
This loan makes sense when you write off more than $50K annually that doesn't reflect real cash outflow. Below that threshold, bank statement loans usually price better and close faster.
Bank statement loans pull income from deposits, while P&L loans use your CPA's certified profitability. Bank statements work better for service businesses with clean deposit patterns.
1099 loans require actual 1099 forms, making them government-documented income. P&L loans give you more control over how income is presented but cost more in rate.
Bradbury's limited inventory means most properties are custom estates. P&L loans accommodate the jumbo amounts these require better than conforming programs.
Los Angeles County requires elevated tax payments. Your P&L must show enough profit to cover these higher monthly obligations, which increases the income threshold for approval.
No, lenders require a licensed CPA or licensed public accountant. The CPA must sign and provide their license number on the statement.
Most lenders want your personal returns to verify self-employment history. They use the P&L for income calculation, not the returns.
Lenders typically use 100% of net profit after expenses. Some average multiple years, others use trailing twelve months only.
This is expected and why the program exists. Lenders understand business owners maximize deductions. Large variances may trigger additional documentation requests.
Expect 30-45 days from application to closing. Manual income review takes longer than automated conventional approvals.
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.