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Davis attracts a high share of self-employed residents — consultants, researchers, and business owners tied to UC Davis.
Standard W-2 underwriting misses their real income. A P&L loan fixes that by using a CPA-prepared statement instead.
680+
Min Credit Score
CPA P&L Statement
Income Doc
10–20% typical
Down Payment
12 or 24 months
P&L Period
Profit & Loss Statement Loans in Davis
Your CPA prepares a 12- or 24-month P&L statement. That document replaces tax returns as your income proof.
Most lenders want a 680+ credit score and 10–20% down. Rates vary by borrower profile and market conditions.
Big banks almost never offer P&L loans. This product lives in the non-QM wholesale market.
At SRK CAPITAL, we access 200+ wholesale lenders — many specialize in non-QM programs like this one.
The P&L must be prepared and signed by a licensed CPA. A bookkeeper's summary won't pass underwriting.
Lenders scrutinize the P&L hard. Make sure your CPA knows this is for mortgage use — the format matters.
Bank Statement Loans use 12–24 months of deposits to calculate income. P&L loans use your CPA's numbers instead.
If your deposits are irregular or business expenses inflate your account, a P&L loan often tells a cleaner story.
Davis has a strong base of independent professionals — attorneys, physicians, and academic consultants who own their practice.
Yolo County home prices put many purchases above conforming loan territory. P&L loans have no GSE caps to worry about.
A licensed CPA must prepare and sign it. Tell your CPA upfront it's for mortgage underwriting — format matters.
No. The P&L replaces tax returns entirely. That's the core appeal for self-employed borrowers with heavy write-offs.
Most lenders require 2 years in business. Newer businesses rarely qualify for P&L underwriting.
Yes. Non-QM loans have no geographic restrictions in California. Davis properties qualify like any other.
P&L uses your CPA's income figure. Bank statement loans calculate income from raw deposits. Each works better in different situations.