Loading
Murrieta attracts a lot of business owners and independent contractors. Many earn strong income but can't show it on a tax return.
A P&L loan uses a CPA-prepared statement to verify income. It's built for borrowers traditional underwriting ignores.
680 typical
Min Credit Score
CPA-prepared P&L
Income Doc
10-20%
Down Payment
12 or 24 months
P&L Period
Non-QM
Loan Type
Your CPA prepares a 12- or 24-month P&L statement. Lenders use that profit figure — not your tax write-offs — to qualify you.
Most lenders want a 680+ credit score and 10-20% down. Loan amounts vary widely depending on the lender and your income profile.
P&L loans are non-QM products. That means banks won't touch them — you need a wholesale lender who specializes in non-QM.
At SRK CAPITAL, we work with 200+ wholesale lenders. We know which ones price P&L loans competitively and close on time.
The biggest mistake self-employed borrowers make: using a P&L that conflicts with their bank statements. Lenders cross-check both.
Get your CPA involved early. A well-prepared P&L can mean the difference between approval and a denial on this loan type.
Bank statement loans average 12-24 months of deposits. A P&L loan can show stronger income if your margins are high.
1099 loans work well for gig workers. P&L loans fit owners with real business expenses and a CPA relationship already in place.
Murrieta has a strong small-business base — contractors, consultants, and healthcare professionals are common borrowers here.
Riverside County prices can still require sizable loan amounts. P&L loans can qualify you for more than your tax returns suggest.
A licensed CPA must prepare and sign it. Your own records won't qualify — lenders require third-party verification.
Many lenders require both. The P&L and bank statements must tell a consistent income story or underwriting flags it.
Expect 21-35 days with a clean file. Delays usually come from missing CPA documentation or income inconsistencies.
Yes. Non-QM pricing carries a premium over conventional rates. Rates vary by borrower profile and market conditions.
Some lenders allow 10% down, but 20% is more common. Your credit score and loan size affect the minimum down required.
Profit & Loss Statement Loans in Murrieta