When it comes to financing luxury homes in Southern California, speed and expertise make all the difference. At Summit Lending, California mortgage expert Jackie Barikhan recently helped a self-employed healthcare professional secure a $2.4 million jumbo loan in Irvine—and closed the deal in only 21 days. The key? Leveraging a Profit & Loss (P&L) mortgage program tailored specifically for self-employed and high-net-worth borrowers. If you’re looking to invest in luxury real estate but you aren’t sure you’ll qualify because of typical loan application requirements, this success story is exactly what you need to hear.
The Borrower’s Challenge
The client, a successful healthcare professional who operates a care home facility, faced a roadblock familiar to many of our clients. Like many business owners, their tax returns didn’t reflect their true income because of common write-offs and deductions. This made qualifying for a traditional mortgage nearly impossible, despite their strong financial position and business performance.
In other words, their actual financial strength wasn’t reflected in a W-2. This is something we see with clients all the time, and we specialize in loans that provide the creative strategy necessary.
The Solution: Profit & Loss Jumbo Mortgage
Instead of using tax returns, Jackie utilized California’s Profit & Loss (P&L) mortgage option. This alternative documentation mortgage program allowed the borrower to verify income using business-generated profit and loss statements. By focusing on real business performance rather than tax documentation, Jackie was able to quickly secure approval with a competitive interest rate in the 6’s.
“Many successful business owners and self-employed borrowers find that their tax returns don’t reflect their true earning potential. Our P&L jumbo mortgage program bridges that gap, helping entrepreneurs purchase or refinance high-value homes with competitive rates and less documentation than traditional loans.”
— Jackie Barikhan, Mortgage Expert at Summit Lending
Why the P&L Mortgage Program Works
The P&L jumbo mortgage is specifically designed for borrowers with complex financial profiles. We often work with clients who are successful, high-net worth individuals but just don’t fit the mold when it comes to typical financing, including:
- Business owners with significant write-offs
- Independent contractors or freelancers with variable income
- Real estate investors whose income doesn’t show clearly on tax returns
Instead of relying on W-2s or traditional income verification, the P&L program emphasizes actual business performance. That flexibility makes it possible to qualify for jumbo loans of $1 million or more without the extensive paperwork and delays associated with conventional underwriting.
Why Clients Trust Jackie Barikhan and Summit Lending
When you pursue a loan for a luxury home purchase in Southern California, you need an expert mortgage lender who understands your needs.
With over 20 years of mortgage expertise, Jackie specializes in helping clients with unique financial circumstances achieve their real estate goals. Whether you’re purchasing a luxury property in Southern California or refinancing an existing high-value home, Jackie has the knowledge and programs to get it done.
She has decades of experience specializing in things like:
- Jumbo Loans (including high-balance luxury home financing)
- Profit & Loss Mortgage Programs
- Stated Income & Alternative Documentation Loans
- Financing for Self-Employed Borrowers with complex income structures
This recent $2.4 million jumbo loan in Irvine is a perfect example of the way her clients benefit from working with her. It proves that with the right mortgage expert, even complex financial profiles can close quickly and competitively. If you’re a self-employed professional, entrepreneur, or investor looking to buy or refinance a luxury property in California, you don’t have to let tax return requirements hold you back.
Contact Jackie Barikhan at Summit Lending today to explore tailored mortgage solutions designed for successful borrowers like you.