I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Call (800) 239-1103.
Owning a licensed cannabis business in California — a dispensary, cultivation operation, distribution company, or cannabis testing lab — puts you in a position that most mortgage lenders cannot work with. Your business is legal under California law, generates real revenue, and files taxes. None of that helps with a conventional mortgage. The solution lies in the non-QM market, with specific investors who have underwritten cannabis business income and built programs around it.
The Core Problem: Federal Law vs. State Legality
Every Fannie Mae, Freddie Mac, FHA, and VA loan program is governed by federal entities. Federal law classifies cannabis as a Schedule I controlled substance — the same category as heroin. Any income derived from cannabis sales, cultivation, distribution, or ancillary cannabis services cannot be used to qualify for a federally-backed mortgage. This applies whether you are the owner, an officer, or an employee. It applies even if your CPA files perfectly clean tax returns showing profitable operations. The income source — not the documentation quality — is the disqualifying factor.
Bank Statement Loans for Cannabis Business Owners
The bank statement loan is the primary mortgage product for cannabis business owners. Rather than submitting tax returns that show cannabis business income (which would be flagged and rejected), you provide 12–24 months of business or personal bank statements. The lender calculates your qualifying income from your average monthly deposits, applies an expense factor (typically 50% for business statements), and qualifies you on the resulting net income figure — with no reference to a federally-illegal business classification.
Cannabis-specific considerations for bank statement loans: many cannabis businesses still operate primarily in cash, which means your bank statements may show large cash deposits rather than ACH transfers or card payment settlements. Lenders who have specifically approved cannabis income are familiar with this pattern and can work with it; lenders who haven’t will flag it as a money-laundering concern. Investor selection is critical — we match cannabis business owners to the non-QM investors who have done this before.
P&L Loans: Alternative for Operators with Clean Financials
Some cannabis businesses — particularly larger multi-location operations or those with professional bookkeeping — qualify for P&L loans: 12-month profit and loss statements prepared by a licensed CPA, used in place of tax returns or bank statements. This approach works well for dispensary owners whose operations show consistent profitability on a monthly basis. Select non-QM investors accept cannabis-sourced P&L statements; others do not. We know which.
Asset Depletion: For Cannabis Operators with Significant Liquid Assets
Cannabis businesses that have been operating profitably for several years often generate significant cash reserves for their owners. If you have substantial liquid assets in personal accounts — investment accounts, savings, crypto (some investors accept), or other liquid holdings — asset depletion loans convert those assets to imputed monthly income without any reference to your business income source. A cannabis dispensary owner with $2M in liquid assets can qualify for a significant mortgage without using a single dollar of cannabis business income in the calculation.
Investment Properties: DSCR Loans Bypass the Income Problem Entirely
If you’re purchasing rental property, a DSCR loan eliminates the income source issue completely. The loan qualifies on the property’s rental income — your personal income source, including cannabis business revenue, is not evaluated. This makes DSCR loans particularly attractive for cannabis business owners who want to build a real estate portfolio alongside their cannabis operations.
Frequently Asked Questions
Can a cannabis dispensary owner get a mortgage in California?
Yes, through non-QM programs: bank statement loans (using business deposits rather than tax returns), P&L loans, asset depletion loans, or DSCR loans for investment properties. Conventional Fannie Mae, FHA, and VA loans are not available for cannabis-derived income.
Do I have to disclose my cannabis business when applying for a mortgage?
Your income documentation will reflect your business activity. For bank statement loans, your deposits are reviewed directly. The non-QM investors DiVita works with have specifically approved cannabis business income — disclosure is required and handled appropriately with these investors.
What is the minimum credit score for a cannabis business owner mortgage?
Most non-QM bank statement investors require 660–680 minimum. Higher scores (700+) unlock lower down payment requirements and better rates. Asset depletion loans may have different thresholds.
See our full Cannabis Industry Mortgage guide →
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
