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Laguna Beach attracts business owners, artists, and entrepreneurs. Most carry complex tax returns that kill conventional loan approvals fast.
A P&L loan uses a CPA-prepared statement to verify income. No tax returns. No W-2s. That changes everything for self-employed buyers here.
680+
Min Credit Score
CPA-Signed P&L
Income Doc
10-20%
Down Payment
12 or 24 Months
P&L Period
Non-QM
Loan Category
Profit & Loss Statement Loans in Laguna Beach
Your CPA prepares a 12 or 24-month P&L statement. Lenders use that income figure — not your tax return write-downs — to qualify you.
Most lenders want a 680+ credit score and 10-20% down. Loan amounts can reach into the jumbo range, which matters in Laguna Beach.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Laguna Beach.
Laguna Beach attracts business owners, artists, and entrepreneurs. Most carry complex tax returns that kill conventional loan approvals fast.
A P&L loan uses a CPA-prepared statement to verify income. No tax returns. No W-2s. That changes everything for self-employed buyers here.
Your CPA prepares a 12 or 24-month P&L statement. Lenders use that income figure — not your tax return write-downs — to qualify you.
Big retail banks don't offer P&L loans. This is a non-QM product — meaning you need a wholesale lender or specialty shop to get it done.
We work with 200+ wholesale lenders. Several specialize in non-QM for high-income self-employed borrowers exactly like those buying in Laguna Beach.
The biggest mistake I see: borrowers submit a sloppy P&L their bookkeeper threw together. Lenders reject it. Your CPA must prepare it — and sign it.
P&L loans price higher than conventional. Expect rates above conforming benchmarks. Rates vary by borrower profile and market conditions.
Bank Statement Loans average 12-24 months of deposits to calculate income. P&L loans can work when your bank statements look inconsistent.
1099 Loans suit contractors with clear 1099 income. Asset Depletion Loans work when you have significant reserves but low monthly income on paper.
Laguna Beach home prices sit well above Orange County's conforming loan limit. Most P&L buyers here are borrowing in jumbo territory by default.
The local buyer pool skews toward self-employed professionals — gallery owners, consultants, developers. P&L loans exist precisely for this profile.
A licensed CPA must prepare and sign it. A bookkeeper or self-prepared statement won't be accepted by lenders.
Yes. Many wholesale lenders offer P&L programs well into jumbo loan amounts. Larger down payments often required.
Lenders use the net income shown on your CPA-prepared statement. Write-offs don't reduce your qualifying income here.
Yes. Non-QM products carry a rate premium over conventional. Rates vary by borrower profile and market conditions.
Some lenders accept 12-month statements. Others require 24 months. Stronger credit profiles often qualify for the shorter option.
Most lenders start at 680. Higher scores get better pricing, which matters a lot on large Laguna Beach loan amounts.