Loading
Profit & Loss Statement Loans in La Puente
Self-employed borrowers in La Puente often write off income to minimize taxes. Traditional lenders reject what tax returns show. P&L statement loans qualify you on profit, not what you reported to the IRS.
This loan works for contractors, restaurant owners, and small business operators across Los Angeles County. If your business generates strong cash flow but your 1040 looks minimal, this is your path to approval.
You need a CPA-prepared P&L covering 12-24 months. The statement must show net profit that supports your debt-to-income ratio. Most lenders want 620+ credit and 15-20% down.
Your CPA must be licensed and unrelated to you. They'll sign off that your P&L reflects actual business performance. Lenders verify this through a direct call to your accountant.
Most banks don't touch P&L loans. You need a non-QM lender that specializes in alternative documentation. Rates run 1-2% higher than conventional, reflecting the added underwriting risk.
We access 30+ non-QM lenders who price P&L loans differently. Some cap at $2M, others go to $3M+. Rate spreads vary by 0.5-0.75% between lenders on identical scenarios.
P&L loans fail when borrowers use their personal accountant instead of a licensed CPA. The lender will reject it. Pay for proper preparation upfront or waste 30 days restarting the process.
Show 24 months of P&L if possible. One year works but limits your lender options and increases your rate. The longer track record you document, the better your pricing.
Bank statement loans require 12-24 months of statements and work for borrowers without a CPA. P&L loans need professional preparation but accept lower deposit amounts as income verification.
1099 loans only work for contract workers with consistent payments from clients. P&L loans handle variable business income and multiple revenue streams. Choose based on your income documentation, not preference.
La Puente's mix of small businesses and owner-operated companies creates strong demand for P&L loans. Contractors, warehouse operators, and service businesses here often carry significant write-offs.
Property values in La Puente work well for P&L loan limits. Most non-QM lenders go to $2M+, covering the local market. Higher loan amounts require shopping lenders who price jumbo P&L products.
That's exactly why P&L loans exist. Lenders use the P&L, not your 1040. Just be ready to explain major discrepancies during underwriting.
No. Lenders require a licensed CPA signature. Bookkeeper-prepared statements get rejected immediately.
30-45 days if your CPA provides clean documentation upfront. Delays happen when lenders can't verify the P&L with your accountant.
Yes. Lenders verify your P&L against actual deposits. Mixing personal and business funds complicates underwriting.
One-year P&L works but limits lender options and increases rates. Two years of profit history gets better pricing.
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.