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Larkspur sits in Marin County — one of the most expensive housing markets in California. Buyers here need real purchasing power, not loan programs built for salaried W-2 earners.
P&L loans are non-QM mortgages. That means they operate outside conventional lending rules and can qualify you on business income — not tax returns.
680+
Min Credit Score
CPA-Prepared P&L
Income Doc Type
10–20% Min
Down Payment
12–24 Months
P&L History Needed
Up to $3M+
Max Loan (Non-QM)
Profit & Loss Statement Loans in Larkspur
Your CPA prepares a 12- or 24-month profit and loss statement. Lenders use that document — not your Schedule C — to calculate qualifying income.
Most lenders want a 680+ credit score and 10-20% down. Stronger credit and more reserves can offset a shorter P&L history.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Larkspur.
Larkspur sits in Marin County — one of the most expensive housing markets in California. Buyers here need real purchasing power, not loan programs built for salaried W-2 earners.
P&L loans are non-QM mortgages. That means they operate outside conventional lending rules and can qualify you on business income — not tax returns.
Your CPA prepares a 12- or 24-month profit and loss statement. Lenders use that document — not your Schedule C — to calculate qualifying income.
Most banks and credit unions won't touch P&L loans. These are wholesale non-QM products — you find them through brokers, not branch offices.
Pricing varies wildly across non-QM lenders. One lender may price your file 75 basis points higher than another on the same scenario. Shopping matters.
The mistake I see constantly: borrowers bring a P&L with declining revenue in month 11 and 12. Lenders flag that. Your P&L needs a stable or upward trend.
Some non-QM lenders will average 24 months of P&L. Others only use the most recent 12. The method used can swing your qualifying income by tens of thousands.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your CPA's statement. If your deposits are messy, P&L is often the cleaner path.
1099 loans work well for independent contractors with straightforward income. P&L fits business owners who run expenses through their entity and show lower net on returns.
Larkspur attracts business owners, consultants, and partners at Bay Area firms — exactly the borrower profile P&L loans are built for. The demand is real here.
As of April 2026, Marin County's price points push most buyers toward jumbo territory. Many non-QM lenders offer P&L products up to $3M or higher.
Yes. Most lenders require a CPA-prepared and signed P&L. A self-prepared spreadsheet won't qualify.
Yes. P&L loans are designed to replace tax return income verification. That's the entire point of the product.
Expect 10-20% down minimum. Jumbo loan amounts in Marin often require 20% or more.
Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.
Most non-QM lenders want 680 or higher. Scores above 720 get materially better pricing.
Many non-QM lenders go to $3M or higher. Loan size eligibility depends on your specific file and lender.