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San Bruno's tech-adjacent economy creates steady demand for self-employment loans. Many business owners here can't document income through W-2s.
P&L statement loans let you qualify using CPA-prepared financials instead of tax returns. This matters when you write off most of your income.
Profit & Loss Statement Loans in San Bruno
You need 12-24 months of P&L statements prepared by a licensed CPA. Most lenders want 620+ credit and 15-20% down for purchase loans.
We see these work for business owners showing $10K+ monthly profit. Your CPA must sign and date each statement with their license number included.
About 30-40 of our 200+ wholesale lenders offer P&L programs. Each has different CPA credential requirements and profit calculation methods.
Some lenders recently added provisions for crypto asset verification. This expands options for tech entrepreneurs holding digital assets.
P&L loans cost more than bank statement loans but can show higher qualifying income. If your CPA calculates strong net profit, this route often wins.
We've closed deals for San Bruno consultants, contractors, and small business owners. The key is working with a CPA who understands mortgage lending standards.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your CPA's profit calculation instead.
Choose bank statements if you have irregular deposits or mix personal and business funds. Choose P&L if your books are clean and show strong margins.
San Bruno properties near SFO and BART command premium prices. These locations attract self-employed buyers who need flexible documentation.
San Mateo County CPAs familiar with mortgage P&L standards make the process smoother. We can refer you to professionals who understand lender requirements.
Most lenders require 620-640 minimum credit. Higher scores unlock better rates and lower down payment options.
Your CPA's net profit calculation determines qualifying income. Most lenders use 100% of the monthly average profit shown on your statements.
No. These loans use CPA-prepared P&L statements instead of tax returns. That's the main advantage for high-write-off business owners.
Expect 30-45 days with clean financials. Delays happen when P&L statements need corrections or CPA documentation is incomplete.
Yes. Many lenders offer P&L programs for investment properties. DSCR loans may offer better terms if the rental covers the payment.
Most programs require 15-20% down for primary residences. Investment properties typically need 20-25% down minimum.