Jackie Barikhan Closes $1.45M Cash-Out Refi in Oceanside, CA - with $350K to Self-Employed Borrower

Jackie Barikhan – Summit Lending closes $1.45M cash-out refinance with $350K cash out to self-employed borrower in Oceanside, CA.

OCEANSIDE, CA, UNITED STATES, April 8, 2026 /EINPresswire.com/ -- Jackie Barikhan of Summit Lending has successfully closed a $1.45 million cash-out refinance for a self-employed borrower in Oceanside, California, delivering over $350,000 in cash-out to help expand the client’s investment property portfolio.

The property, a single-family residence with two accessory dwelling units (ADUs) valued at $2.15 million, presented unique challenges, including a complex rental income structure and limited comparable sales for appraisal.

Traditional financing, including DSCR (debt service coverage ratio) loans, was not an option.

Using a Profit & Loss / Stated Income program, Jackie Barikhan was able to:
• Approve the loan without tax returns or bank statements
• Navigate the complex rental income and appraisal issues
• Shop for the lowest rates and fees across multiple lenders
• Deliver $350,000 cash-out to support the client’s investment goals

Loan Highlights:
• Loan Program: Profit & Loss / Stated Income / No Tax Returns / No Bank Statements Required
• Transaction Type: Cash-Out Refinance
• Loan Amount: $1.45 million
• Appraised Value: $2.15 million
• LTV: 70%
• Credit Score: 770 FICO
• Term: 30-year fixed
• Property Type: Single-Family Residence with 2 ADUs
• Occupancy: Primary Residence
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Why Profit & Loss / Stated Income Loans Are Ideal for Self-Employed Borrowers
Profit & Loss (P&L) loans, also called stated income loans, are designed for self-employed borrowers and business owners whose tax returns may not accurately reflect cash flow due to deductions or write-offs.
These programs allow lenders to approve financing based on detailed P&L statements, rather than traditional bank statements or W2s.

Typical Guidelines:
• Loan-to-Value (LTV): 60–80% for primary residences; flexible depending on property complexity
• Credit Score: 680+ preferred, with competitive rates for 700+ FICO
• Property Types: Primary homes, multi-unit SFRs, properties with ADUs, and investment properties
• Income Verification: P&L statements or self-certified income statements rather than tax returns

Jackie Barikhan specializes in complex, high-value self-employed financing, helping clients secure loans that banks often cannot, including scenarios with rental income, multiple ADUs, or cash-out needs. With over 25 years of experience and hundreds of millions in loans closed, she provides tailored solutions for unique borrower situations.
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“This borrower’s self-employment and rental structure would have made traditional financing impossible,” said Jackie Barikhan. “By using a Profit & Loss / Stated Income program, we were able to get the client $350,000 cash-out while securing a 30-year fixed loan at the lowest available rate.”
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About Summit Lending
Summit Lending is a leading California mortgage brokerage specializing in self-employed borrowers, bank statement loans, stated income and Profit & Loss programs, jumbo loans, and investor financing. The firm is known for personalized, scenario-driven solutions that help clients achieve homeownership and investment goals even in complex financial situations.

Jackie Barikhan
Jackie Barikhan - Summit Lending
+1 949-600-0944
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