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Calistoga runs on wine, hospitality, and tourism. Most business owners here don't show clean W-2 income.
A P&L loan skips tax returns entirely. Your CPA prepares a profit and loss statement, and that's your income proof.
680+ typical
Min Credit Score
CPA-signed P&L
Income Doc
10-20% min
Down Payment
12 or 24 months
P&L History
Non-QM
Loan Type
Profit & Loss Statement Loans in Calistoga
Your CPA must prepare and sign a 12- or 24-month P&L statement. The income on that statement is what lenders use.
Most lenders want a 680+ credit score and 10-20% down. Reserves matter too — expect to show 3-6 months of payments in the bank.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Calistoga.
Calistoga runs on wine, hospitality, and tourism. Most business owners here don't show clean W-2 income.
A P&L loan skips tax returns entirely. Your CPA prepares a profit and loss statement, and that's your income proof.
Your CPA must prepare and sign a 12- or 24-month P&L statement. The income on that statement is what lenders use.
Retail banks rarely offer P&L loans. This is a wholesale non-QM product — you need a broker with the right lender relationships.
We work with 200+ wholesale lenders. Several specialize in non-QM. We know which ones price P&L loans competitively right now.
The biggest mistake I see: a borrower brings a P&L their bookkeeper threw together in QuickBooks. Lenders reject it fast.
Your CPA must certify the statement. Some lenders also cross-check against business bank statements. Clean up both before you apply.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your CPA's numbers instead.
If your deposits are messy or commingled, a P&L loan can actually show stronger income. Talk through both options before committing.
Calistoga's economy is seasonal. Winery owners, innkeepers, and spa operators often show volatile monthly revenue.
A 24-month P&L smooths that volatility. Lenders average income over the full period, which helps when summers spike and winters slow.
A licensed CPA must prepare and sign it. Self-prepared or bookkeeper statements are not accepted by lenders.
Yes, if you're buying as a primary or second home. For investment properties, a DSCR loan may be a better fit.
No. That's the point of a P&L loan. Tax returns are not required, which helps when write-offs reduce taxable income.
Most lenders require 2 years of self-employment history. Some accept 1 year with strong compensating factors.
Yes, non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.
P&L loans are non-QM, so conforming limits don't apply. Many lenders go well above conventional caps for qualified borrowers.