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Newman sits in Stanislaus County, where agriculture and small business ownership drive a lot of local income. Standard tax returns often don't capture what these borrowers actually earn.
A P&L loan lets a CPA-prepared statement do the work. No W-2s, no pay stubs — just a clean picture of business income.
620–640 typical
Min Credit Score
CPA-prepared P&L
Income Doc
10–20% typical
Down Payment
12 or 24 months
P&L Period
Profit & Loss Statement Loans in Newman
Your CPA prepares a 12- or 24-month profit and loss statement. Lenders use that to calculate qualifying income — not your Schedule C write-downs.
Credit score requirements typically start around 620-640. Down payment minimums often run 10-20%, depending on the lender and loan size.
Most retail banks won't touch P&L loans. This product lives almost entirely in the non-QM wholesale space.
We work with 200+ wholesale lenders, so we can compare P&L programs across multiple investors. Rates vary by borrower profile and market conditions.
The CPA relationship matters here. Some lenders want the preparer to sign a certification. Make sure your CPA knows what they're signing before you're mid-transaction.
We see borrowers get tripped up by mixing business and personal expenses on the P&L. Clean, well-organized statements close faster and at better rates.
Bank statement loans use 12-24 months of deposits to verify income. P&L loans use a CPA summary instead — less documentation, but lender scrutiny runs higher.
1099 loans work if your income is contractor-based. P&L loans fit better when you own a business with real operating expenses and a CPA already on file.
Newman has a strong base of farmers, truckers, and small business owners. Many write off aggressively — which tanks their taxable income but doesn't reflect actual cash flow.
A P&L loan is specifically designed for this situation. Your CPA documents what the business earns, not what you strategically reduced for tax purposes.
They must be a licensed CPA or enrolled agent. Some lenders also require a signed certification letter alongside the P&L.
Some lenders accept 12 months. Others require 24. A 24-month P&L typically gets you better terms and more lender options.
Lenders take your net profit and may add back certain expenses. The exact method varies by lender and program.
Yes. Non-QM products like P&L loans carry higher rates than conventional financing. Rates vary by borrower profile and market conditions.
Single-family homes and some multi-unit properties qualify. Rural or ag-zoned land has fewer options and may not be eligible.
Yes. Rate-and-term and cash-out refinances are both possible through non-QM P&L programs, subject to lender guidelines.