SELF EMPLOYED?
HOW TO GET A MORTGAGE LOAN
If you’ve struggled with income documentation or have been denied by other lenders, we will work with you to obtain financing using profit and loss statements as INCOME.
NO Tax Returns Required!
Proudly Serving all of California
Call Anytime:
Mobile: (949) 600-0944
No 1099’s No Bank Statements No K1’s
Buy or refinance up to 90% loan to Value/ 10% down
Loan Amounts up to $3,000,000
NO Mortgage Insurance
Why Jackie Barikhan at
Summit Lending?
Jackie is a California-based, award-winning mortgage professional with over 100 5-star ratings. Committed to excellent strategies and out-of-the-box thinking. Mortgage lending is all I do, all day, every day! I’m here to help you in every way!
Call today for a FREE consultation – (949) 600-0944 or book a time to chat HERE
P&L Loans for Self-Employed Homebuyers in California
If you’re self-employed : a business leader, tech innovator, musician, star athlete, doctor, attorney, contractor or real estate agent, you probably take advantage of every legal tax deduction you can. That’s smart for your business… but it often makes qualifying for a traditional mortgage challenging.
Our Profit & Loss (P&L) Loan Program solves that problem.
Instead of using tax returns, W-2s, or bank statements, we can qualify you based only on your CPA-prepared or accountant-prepared Profit & Loss statement from the past 12–24 months. This gives self-employed borrowers the freedom to get approved for a home loan even if taxable income appears low on paper.
Benefits of a P&L Loan
- California-Only Expertise – We specialize in mortgages for California borrowers.
- No Tax Returns, W-2s, or Bank Statements Needed – Qualify using just your P&L statement.
- Competitive Rates – This is not hard money lending.
- Fast Closings – Many loans close in 3 weeks or less.
- Past Credit Issues May Be OK – Flexible underwriting options available.
Who Can Benefit from a P&L Mortgage?
- Self-employed business owners
- Independent contractors & freelancers
- Real estate agents & brokers
- Medical and legal professionals
- Entrepreneurs with significant deductions
Profit and Loss Statements
A common question amongst self-employed borrowers is: Can I Qualify for a Mortgage with My Profit and Loss Statement? If you’re a self-employed business owner, freelancer, or entrepreneur, you’ve probably already discovered that getting a mortgage isn’t always as simple as it is for traditional W-2 employees. The truth is, even highly successful business owners can run into roadblocks when trying to qualify for a loan the “traditional” way, especially if you write off a lot of expenses or keep your tax footprint small.
If you’re a successful business owner, but don’t have W-2 income or tax returns to show your success, applying for a mortgage can be daunting. We work every day with clients who are successfully self-employed, but don’t qualify for a conventional mortgage because their income is not proven in the typical way. If you don’t fit the mold, don’t worry. We are experts in helping people just like you to reach their goals in real estate, with solutions like a Profit and Loss Statement Mortgage.
What is a Profit and Loss Statement Mortgage?
A Profit and Loss (P&L) Statement mortgage is a type of home loan that allows you to qualify based on your business’s profit and loss statement, instead of using W-2s, tax returns, or bank statements. You can use either one or two years of P&L documentation to demonstrate your income.
This could be a game-changer for you if you:
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Keep your taxable income low for strategic reasons
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Have seasonal or fluctuating income
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Are newly self-employed but have strong business performance
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Earn significant cash income that is not reflected in your bank deposits
Bank statement mortgages are another popular option for self-employed borrowers, but for some business owners a P&L is going to be a stronger way to prove income. We can work with either one.
Profit and Loss Statement Loan Details at a Glance
While terms will vary based on the market, this is what you should know about a P&L Statement Loan with us:
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Loan amounts from $300,000 to $6,000,000
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Up to 85% financing available (you only need 15% down)
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No W-2s or tax returns required
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Use a 1-year or 2-year P&L statement prepared by a CPA
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Perfect for cash-heavy businesses, freelancers, and entrepreneurs
Is a P&L Statement Mortgage Right for Me?
We know that every borrower is unique, and the financing we offer is just as specialized as our clients. The P&L Loan program is built specifically for:
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Business owners and self-employed borrowers who don’t receive a regular paycheck
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Entrepreneurs with fluctuating income or reinvested profits
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Freelancers and gig workers who have strong earnings but minimal paper trails
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Cash-based businesses such as salons, mechanics, independent retailers, or tradespeople
Even if your tax returns don’t fully reflect your income due to write-offs, we know that a professionally prepared P&L can highlight the real performance of your business, and that’s what we’ll use to qualify you.
What Do I Need to Apply for a Profit and Loss Statement Mortgage?
To apply for a P&L-based mortgage, you’ll need:
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A profit and loss statement for the most recent 1 or 2 years, prepared by a licensed CPA
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A business license (if applicable)
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Basic documentation about your business and personal assets
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Credit and down payment details
It is a far more streamlined process than collecting years of tax returns or organizing months of bank statements, and is probably easier than you think.
Why Work with Jackie Barikhan – Summit Lending
With over 20 years of mortgage experience and a focus on helping self-employed borrowers, Jackie knows exactly how to structure your loan for success. You’ll work with a lender who understands your financial profile… and knows how to get you approved.
Call Jackie Today: (949) 600-0944
Your California Self-Employed Mortgage Expert
Mortgage financing can be complicated. My expert team will make sure everything is transparent and painless as possible, so you can move into your new home, or get the cash out you need with minimal stress. I LOVE what I do! There is no greater privilege than to help families secure their future home or help make a dramatic impact on a family’s budget by helping them save on their mortgage payment.
Serving the entire State of California.
Nationally Licensed Mortgage Advisor:
NMLS# 914312
BRE# 01962240
My Lender Jackie
15183 Springdale
Huntington Beach, CA 92649
I am thoroughly impressed and grateful to have worked with Jackie and her team! I really admire the can-do, positive attitude that Jackie had throughout this year-long process of us searching for a house, and when we finally found it, the very long escrow process. She answered all of our questions, helped us stayed on top of our finances and documents, and send us helpful reports so that we can make the right choice in choosing our home. Jackie has a wealth of knowledge (and patience!) that was invaluable in analyzing properties and loan products that best fit our needs. We went through so many scenarios of different properties and financing options and qualifying criteria, etc., our file was probably the largest anyone has ever seen but Jackie was able to sort through it all and finally get us to close on our loan. Daniel and I are eternally grateful to Jackie for helping us start our real estate investing careers! It is truly a dream come true 🙂