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San Jose runs on founders, consultants, and contractors. 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 (typical)
Min Credit Score
CPA-Prepared P&L
Income Doc
12 or 24 months
P&L History
10–20% typical
Down Payment
Non-QM
Loan Type
Profit & Loss Statement Loans in San Jose
Your CPA prepares a 12- or 24-month P&L. Lenders use that income figure — not your Schedule C — to qualify you.
Most lenders want a 680+ credit score and 10-20% down. Loan amounts can reach jumbo territory, which matters in Santa Clara County.
P&L loans are non-QM products. Most big banks don't offer them. You need a broker with access to wholesale non-QM lenders.
We work with 200+ wholesale lenders — including non-QM specialists. That means we can shop your P&L across multiple programs.
The P&L has to be credible. Lenders will flag a statement that looks inflated or inconsistent with your business type.
Work with a CPA who has prepared P&Ls for mortgage purposes before. A clean, well-documented statement moves faster through underwriting.
Bank Statement loans use 12-24 months of deposits to calculate income. P&L loans use your accountant's income summary instead.
If your deposits are messy or commingled, a P&L loan may qualify you at a higher income than bank statements would show.
Santa Clara County is one of the most expensive markets in California. P&L loans can qualify for high loan amounts — critical here.
Tech consultants, startup operators, and small business owners in San Jose are the core use case. This loan is built around their income profile.
A licensed CPA or tax professional must prepare it. Lenders will not accept a self-prepared P&L statement.
No. That's the point of this loan. The CPA-prepared P&L replaces tax returns as the primary income document.
Yes. Many non-QM lenders offer P&L programs above conforming limits. San Jose prices often require it.
The lender uses net or gross income from your P&L — the method depends on the lender's guidelines. Ask your broker before applying.
Most P&L lenders start at 680. Higher scores get better rates. Rates vary by borrower profile and market conditions.
Bank statements use deposit history. P&L uses your accountant's income summary. Your CPA's numbers may show higher qualifying income.