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Self-employed borrowers in Shasta Lake often get rejected by conventional lenders. Tax returns show losses. P&L loans fix that.
This is a non-QM loan. That means it falls outside standard agency guidelines. Lenders price for that risk, so rates run higher.
640-680+
Min Credit Score
CPA P&L Statement
Income Doc
10-20%
Down Payment
12 or 24 Months
P&L History
3-6 Months
Reserves Required
Profit & Loss Statement Loans in Shasta Lake
Your CPA prepares a 12- or 24-month profit and loss statement. The lender uses that — not your 1040 — to calculate income.
Most lenders want a 680+ credit score and 10-20% down. Expect reserves of 3-6 months. Rates vary by borrower profile and market conditions.
Local decision guide
Use this guide to connect profit & loss statement loans eligibility, lender expectations, and local market factors before comparing payment options in Shasta Lake.
Self-employed borrowers in Shasta Lake often get rejected by conventional lenders. Tax returns show losses. P&L loans fix that.
This is a non-QM loan. That means it falls outside standard agency guidelines. Lenders price for that risk, so rates run higher.
Your CPA prepares a 12- or 24-month profit and loss statement. The lender uses that — not your 1040 — to calculate income.
Retail banks rarely offer P&L loans. This product lives in the wholesale and non-QM lending space.
We shop across 200+ wholesale lenders to find who prices P&L loans best for Shasta County borrowers. Not every lender treats all regions equally.
The biggest mistake I see: borrowers bring a P&L their bookkeeper made in Excel. Lenders reject it. It must come from a licensed CPA.
Some lenders want a 12-month P&L. Others want 24. The longer history almost always gets you a better rate. Plan ahead with your accountant.
Bank statement loans use 12-24 months of deposits to verify income. P&L loans skip that and rely on your accountant's numbers instead.
If your business has high revenue but heavy expenses, bank statements may show more income than your P&L. Run both scenarios before choosing.
Shasta Lake has a strong base of small business owners and tradespeople. P&L loans were built for exactly this borrower profile.
Shasta County is not a high-cost area. Loan amounts stay within ranges where non-QM lenders are comfortable. That works in your favor here.
Yes. Lenders require a licensed CPA to prepare and sign it. Bookkeeper or self-prepared statements will not be accepted.
Yes. P&L loans work for purchases and refinances in Shasta County. Property type and loan amount affect which lenders will participate.
Lenders average your net income over 12 or 24 months. Some lenders apply an expense factor on top of that calculation.
Most P&L lenders want 680 or above. Some go down to 640 with stronger compensating factors like larger down payments.
They run higher. Non-QM pricing reflects added risk. Rates vary by borrower profile and market conditions.
Some lenders require at least 2 years of self-employment. Others accept 12 months with strong income history. We find out before you apply.