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Seaside sits at the edge of Monterey Bay — a market where small business owners, contractors, and consultants are common buyers.
P&L loans exist for one reason: your tax returns show losses while your business actually runs strong. Standard loans can't handle that disconnect.
680+ typical
Min Credit Score
CPA-prepared P&L
Income Doc Type
12 or 24 months
P&L History Needed
10–20% typical
Down Payment
Non-QM
Loan Type
Your CPA prepares a 12- or 24-month P&L statement. That document becomes your income proof — not your Schedule C.
Most lenders want a 680+ credit score and 10-20% down. Rates vary by borrower profile and market conditions.
Traditional banks almost never offer P&L loans. This is a wholesale non-QM product — which means broker access matters.
We work with 200+ wholesale lenders. Several specialize in P&L programs with competitive terms for Monterey County borrowers.
The CPA matters more than most borrowers expect. Lenders scrutinize how the P&L is formatted and whether it's signed and dated.
Get your CPA involved early. A sloppy P&L kills deals fast — even when the income numbers are solid.
Bank Statement loans use 12-24 months of deposits instead of a P&L. If your books aren't clean, bank statements may be easier.
P&L loans often qualify you for higher amounts when your CPA can show strong net income over a shorter window.
Seaside has a mix of military households, hospitality workers, and entrepreneurs tied to the Monterey peninsula economy.
Self-employed buyers here often run tourism, food service, or trades businesses — all income types that P&L loans handle well.
Your CPA or licensed tax professional must prepare it. Self-prepared statements are not accepted by P&L lenders.
Some lenders allow 10% down on P&L loans. Stronger credit scores and income documentation improve your options.
Most lenders require at least two years of self-employment. Some allow one year with strong documentation.
Yes — non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.
Lenders average income across the statement period. Volatile income may reduce your qualifying amount.
Yes. If your income documentation improves, you may refinance into a conventional loan down the road.
Profit & Loss Statement Loans in Seaside