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San Rafael sits in one of California's most expensive counties. Self-employed buyers here need income solutions that match how they actually earn.
P&L loans let a CPA-prepared statement stand in for tax returns. That matters when your write-offs make your taxable income look low on paper.
680+
Min Credit Score
CPA-Prepared P&L
Income Verification
10-20%
Down Payment
12 or 24 Months
P&L Coverage
Profit & Loss Statement Loans in San Rafael
Your CPA prepares a 12- or 24-month profit and loss statement. Lenders use that income figure — not what's on your Schedule C.
Most lenders want a 680+ credit score for P&L loans. Down payments typically start at 10%, though 20% gets you better pricing. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in San Rafael.
San Rafael sits in one of California's most expensive counties. Self-employed buyers here need income solutions that match how they actually earn.
P&L loans let a CPA-prepared statement stand in for tax returns. That matters when your write-offs make your taxable income look low on paper.
Your CPA prepares a 12- or 24-month profit and loss statement. Lenders use that income figure — not what's on your Schedule C.
P&L loans are non-QM products. That means retail banks and credit unions rarely offer them. You need a broker with access to specialty wholesale lenders.
We work with 200+ wholesale lenders. Several run strong P&L programs. We match your income structure to the lender whose guidelines actually fit your file.
The most common problem I see: borrowers bring a P&L their bookkeeper made in QuickBooks. Lenders reject it. It must be CPA-prepared and signed.
Second issue — big income swings between year one and year two. Some lenders average both years. Others use just the most recent. Knowing which lender to use can swing your qualifying income by six figures.
Bank statement loans use 12-24 months of deposits to verify income. P&L loans use a CPA's summary instead. P&L programs often qualify you faster if your books are clean.
1099 loans work well for contractors with consistent 1099s. If your income comes from a business you own, a P&L loan usually fits better than a 1099 program.
Marin County purchase prices are high. P&L loans can go well into jumbo territory — some lenders approve up to $3M or more on this program.
San Rafael has a strong base of self-employed professionals: attorneys, consultants, contractors, and small business owners. This loan was built for that borrower profile.
Your CPA must prepare and sign it. A self-prepared statement will not be accepted by any lender on this program.
Most lenders require it dated within 60 days of your loan application. Ask your CPA to prepare it close to when you apply.
Yes. Several of our lenders offer P&L programs at jumbo loan amounts. Rates vary by borrower profile and market conditions.
Most lenders require 680 or above. Higher scores improve your rate and expand your lender options significantly.
Yes — both purchase and refinance transactions qualify. Cash-out refinances are also available on some P&L programs.