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Fairfield sits between the Bay Area and Sacramento. That corridor draws a lot of self-employed contractors, truckers, and small business owners.
Standard loan underwriting punishes business owners who write off expenses. A P&L loan skips the tax return problem entirely.
680+
Min Credit Score
CPA-Prepared P&L
Income Doc
10-20%
Down Payment
12 or 24 Months
P&L History
Profit & Loss Statement Loans in Fairfield
Your CPA prepares a 12- or 24-month P&L statement. Lenders use that to calculate your qualifying income — not your taxable income.
Most lenders want a 680+ credit score. Expect to put down 10-20%. Rates vary by borrower profile and market conditions.
Big retail banks don't offer P&L loans. This is a non-QM product — meaning it lives entirely in the wholesale and private lending space.
We work with 200+ wholesale lenders at SRK CAPITAL. That matters here because P&L guidelines vary a lot from lender to lender.
The CPA letter is everything. A vague or unverified P&L gets killed in underwriting fast. Your accountant needs to be specific and responsive.
Some lenders cross-check your P&L against business bank statements. Make sure your deposits roughly support what the P&L shows.
Bank statement loans use 12-24 months of deposits to calculate income. P&L loans use your CPA's summary instead — fewer pages, simpler file.
If your deposits are lumpy or your business account mixes personal expenses, a P&L loan may produce a cleaner income picture than bank statements.
Solano County has a strong base of independent truckers, construction trades, and small retail businesses. Many of those owners can't qualify with tax returns alone.
Fairfield's home prices are lower than Bay Area markets. That means smaller loan amounts — and slightly more lender options at lower P&L loan tiers.
A licensed CPA or tax professional must prepare and sign it. Lenders won't accept borrower-prepared statements.
Some lenders allow 12-month P&L. Others require 24 months. We'll match you to the right lender for your situation.
No. That's the point of this loan. The P&L replaces tax return income verification for self-employed borrowers.
Lenders typically use your net profit shown on the P&L. Some add back depreciation or other non-cash expenses.
Yes — non-QM loans carry higher rates than conventional. Rates vary by borrower profile and market conditions.
Not ideally. DSCR loans are built for investment properties. P&L loans are designed for primary or second home purchases.