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Profit & Loss Statement Loans in San Anselmo
San Anselmo's entrepreneurial class—consultants, creatives, tech contractors—often write off everything they legally can. That destroys their tax returns but leaves plenty of actual cash flow.
P&L statement loans look at your business income before deductions. A CPA-prepared statement showing strong revenue replaces traditional income verification.
You need 12-24 months of CPA-prepared profit and loss statements. Most lenders want a licensed CPA—not a bookkeeper—to certify the numbers.
Credit requirements start at 640, but realistically you need 680+ for competitive pricing. Expect 15-20% down on primary homes, 25-30% on investment properties.
Only non-QM lenders offer P&L programs. Traditional banks and credit unions won't touch them because they fall outside Fannie/Freddie guidelines.
Rates run 0.75-2.5% above conventional loans. Your exact rate depends on credit score, down payment, and how clean your P&L looks. Rates vary by borrower profile and market conditions.
I see loan officers waste weeks trying to force self-employed borrowers through conventional underwriting. If your tax returns show half your actual income, start with a P&L loan from day one.
Get your CPA involved early. The P&L needs specific formatting and detail levels that vary by lender. A statement prepared for your eyes won't pass underwriting without adjustments.
Bank statement loans examine deposits—easier documentation but sometimes shows lower income if you run expenses through the business account. P&L loans isolate revenue and cost of goods sold.
1099 loans work if most income comes from 1099 contracts. But if you blend W-2, 1099, and business income, a P&L statement captures everything cleanly in one document.
Marin's housing stock skews older and pricier. That combination means appraisals sometimes come in under purchase price, requiring larger down payments than you planned.
Many San Anselmo properties need updates. Make sure your P&L loan allows repair escrows if you're buying a fixer. Not all non-QM lenders permit them.
Most lenders require a licensed CPA, not just a bookkeeper or EA. Confirm your preparer's credentials match lender requirements before paying for the statement.
Yes, but you'll need 25-30% down and strong reserves. Some lenders cap at four units while others handle larger properties through different programs.
Most lenders want 12-24 months. Newer businesses struggle to qualify unless you show consistent revenue growth and substantial cash reserves.
Underwriters average the months and may request two years instead of one. Strong peak months can offset slow periods if the trend line looks stable.
Yes. Many self-employed borrowers in Marin own rentals. The P&L covers business income while Schedule E handles rental properties—both count toward qualification.
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.