Loading
Brea sits in north Orange County — a market where business owners and entrepreneurs are common buyers. Standard W-2 underwriting shuts them out fast.
P&L loans use a CPA-prepared profit and loss statement to verify income. No tax returns. No pay stubs. Just what your business actually earned.
680 typical
Min Credit Score
CPA-signed P&L
Income Doc
10-25%
Min Down Payment
2 years min
Business History
Non-QM
Loan Type
Your CPA prepares a 12- or 24-month P&L statement. Lenders use that income figure — not what your Schedule C shows after deductions.
Credit requirements vary by lender. Most want a 680 or better. Down payment typically starts at 10%, but 20-25% gets you better pricing.
Retail banks almost never offer P&L loans. This product lives in the wholesale and non-QM lending space — which is exactly where we operate.
We work with 200+ wholesale lenders. Several specialize in non-QM. That means more program options and real rate competition for your file.
The P&L has to be credible. Lenders flag statements that show income far above what the business type typically earns. Your CPA needs to know what they're signing.
This loan works best when your business is established — at least two years running. A brand-new LLC with a shiny P&L is a hard sell at underwriting.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your accountant's summary instead. Both skip tax returns entirely.
If your deposits are messy or you mix personal and business accounts, P&L often underwrites cleaner. Talk to us — we'll run both options on your file.
Brea has a strong base of small business owners — retail, professional services, contractors. Many earn well but write off aggressively on their taxes.
Those write-offs kill W-2-style qualification. A P&L loan prices you on real business income, not the taxable income your accountant minimized.
A licensed CPA must prepare and sign it. A bookkeeper or self-prepared statement won't pass underwriting.
Some lenders allow 10% down on P&L loans. Stronger credit and lower loan-to-value ratios get better rates. Rates vary by borrower profile and market conditions.
Yes, typically. Non-QM pricing carries a premium over conventional. The trade-off is qualifying on actual business income.
Most lenders require two years in business. Some non-QM lenders go to 12 months, but expect tighter terms.
Yes. P&L loans work for primary homes and investment properties. DSCR loans are another option worth comparing for rentals.
That's the whole point of this loan. Lenders use the P&L figure, not your taxable income. The statement just has to be credible.
Profit & Loss Statement Loans in Brea