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San Bernardino has a large base of self-employed residents — contractors, truckers, and small business owners are everywhere here.
A P&L loan lets your CPA-prepared profit and loss statement stand in for W-2s or tax returns to verify your income.
620–660
Min Credit Score
12–24 Months
P&L History Needed
10–20%
Min Down Payment
Non-QM
Loan Type
Most lenders want a 12- or 24-month P&L prepared by a licensed CPA. Your accountant's signature carries real weight here.
Expect a minimum credit score around 620-660. Down payment requirements typically start at 10-20% depending on the lender.
Big retail banks don't offer P&L loans. This product lives entirely in the non-QM wholesale space.
HousingWire noted Pennymac TPO just expanded its wholesale non-QM lineup — more lender competition means more options for borrowers like you.
The CPA relationship matters more than most borrowers realize. A vague or inconsistent P&L kills deals fast.
We shop this across 200+ wholesale lenders. Rate and LTV terms vary widely — the first quote you see is rarely the best.
Bank Statement Loans use 12-24 months of deposits to verify income. P&L loans use your CPA's summary instead.
If your deposits are inconsistent but your business income is stable, a P&L loan often tells a cleaner story to lenders.
San Bernardino's economy runs heavily on logistics, construction, and independent trades. These borrowers rarely have clean W-2 histories.
P&L loans were designed for exactly this borrower profile. If you own a business in the Inland Empire, this may be your straightest path to financing.
A licensed CPA must prepare and sign it. Lenders won't accept self-prepared statements.
Most lenders want 24 months. Some allow 12, but expect a higher rate or lower LTV in exchange.
Most P&L lenders start at 620-660. Higher scores get better rates — rates vary by borrower profile and market conditions.
Yes. P&L loans work for purchases and refinances throughout San Bernardino County.
Both are non-QM. P&L loans use your CPA's income summary. Bank Statement loans use actual deposit history.
Yes, non-QM rates run higher than conventional. Rates vary by borrower profile and market conditions.
Profit & Loss Statement Loans in San Bernardino