Loading
Port Hueneme sits in Ventura County, where self-employed borrowers often hit a wall with conventional lenders. Tax returns rarely tell the full story of what a business actually earns.
P&L loans fix that problem. A CPA-prepared profit and loss statement replaces tax returns as the income document.
660+
Min Credit Score
CPA-Prepared P&L
Income Doc
10–20% Typical
Down Payment
2 Years Preferred
Self-Employment History
Your CPA prepares a 12- or 24-month P&L statement. Lenders use that to calculate qualifying income — not your Schedule C.
Expect to show strong credit, usually 660 or above. You'll also need a meaningful down payment, typically 10–20%.
Most retail banks won't touch P&L loans. This product lives in the wholesale and non-QM lender space.
We work with 200+ wholesale lenders. Several specialize in P&L programs with different income calculation methods and overlays.
The biggest mistake I see: borrowers get a P&L from their bookkeeper, not a CPA. Most lenders reject those outright.
Lenders also vary on how they calculate income from the P&L. Some apply an expense factor. Others take net income at face value. That difference can change your qualifying number significantly.
Bank statement loans use 12–24 months of deposits to calculate income. P&L loans use your CPA's reported net. Each method produces a different number for the same borrower.
If your business has high revenue but high expenses, bank statements might qualify you for more. If your CPA reports strong net income, a P&L loan could be the cleaner path.
Port Hueneme's economy includes defense, logistics, and port operations. Many local contractors and vendors run their own businesses — P&L loans are a real fit here.
Ventura County has a mix of property types and price points. A P&L loan can work on single-family homes and some investment properties depending on lender guidelines.
A licensed CPA must prepare and sign it. Bookkeepers and accountants without a CPA license typically won't satisfy lender requirements.
Yes. P&L loans work for purchase and refinance in Ventura County. Property eligibility depends on the specific lender's guidelines.
Most lenders want at least 2 years of self-employment history. Some will consider 1 year with strong financials.
Yes. Non-QM loans carry higher rates than conventional loans. Rates vary by borrower profile and market conditions.
Lenders will flag large gaps. Your broker can help you choose the method that produces the stronger qualifying income.
Some non-QM lenders allow it. For pure investment properties, a DSCR loan may be a better fit than a P&L program.
Profit & Loss Statement Loans in Port Hueneme