P&L Loan
For Self-Employed borrowers with Profit and Loss statements.
- Loans up to $3 million with a minimum of $150,000
- Purchase and cash-out or rate-term refinance
- Owner-occupied, second homes, and investment properties
- Prepared by CPA/Tax preparer
- Two years' seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
Min Fico
640
(Up to 75% LTV)
Max LTV
80%
(Minimum 660 FICO)
We offer 1-year and 2-year Profit & Loss Statement loans tailored for self-employed individuals. These loans allow borrowers to use their business’s Profit & Loss (P&L) statement to qualify, bypassing traditional income verification.
FAQ’s
Can you get a mortgage with P&L Statements?
Yes, self employed borrowers who own their own business can use P&L statements to qualify for a loan. This loan option helps those who cannot verify income based on tax returns.
What is the benefit to originators who use non-QM loan products?
Originators who utilize non-QM offer a service that their competition may not offer. They become an expert and go-to for the non-QM borrower. The benefit is increased referrals and business growth despite changes in the market. Continue to increase your volume each year regardless of fluctuating interest rates, tighter Agency guidelines, and a slowing refinance market.