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Tustin has a strong base of business owners, contractors, and consultants. Many earn well but can't show it on a tax return.
P&L loans exist for exactly that situation. Your CPA prepares the statement — the lender uses it to qualify you.
680+
Min Credit Score
CPA-Prepared P&L
Income Doc
12 or 24 Months
P&L Period
10–20%
Min Down Payment
2 Years Typical
Self-Employed Required
You need a CPA-prepared P&L — not a DIY spreadsheet. Lenders want 12 or 24 months of business income documented.
Most lenders require a 680+ credit score for P&L loans. Down payment requirements typically start at 10-20%.
Big banks don't touch P&L loans. This product lives entirely in the non-QM wholesale space.
We work with 200+ wholesale lenders. Several specialize in P&L programs with different income calculation methods.
The biggest deal-killer is a P&L that doesn't match bank deposits. Lenders cross-reference both.
Get your CPA involved early. A well-prepared P&L can mean the difference between approval and a denial.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your accountant's numbers instead.
P&L loans often qualify borrowers with lower gross deposits but higher net profit. The right fit depends on your books.
Tustin's proximity to Irvine's business corridor means a high concentration of self-employed professionals and small business owners.
As of April 2026, Orange County remains a high-cost market. P&L loans need to qualify borrowers at realistic price points here.
A licensed CPA or tax professional must prepare it. Self-prepared statements are not accepted by any lender we work with.
Yes. P&L loans have no geographic restrictions. Orange County's higher prices may require a stronger P&L or larger down payment.
Most lenders use net profit from the P&L. Some apply an expense factor to gross revenue. The method varies by lender.
No. That's the point. The P&L replaces tax return income verification for self-employed borrowers.
Most P&L programs start at 680. Stronger credit can improve your rate and reduce your required down payment.
P&L loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Profit & Loss Statement Loans in Tustin