P&L Loan
- Loans up to $3 million with a minimum of $150,000
- Prepared by CPA/Tax preparer
- Requires 2 months of business bank statements with deposits supporting gross receipts within 15%
- Owner-occupied, second homes, and non-owner occupied
- Purchase and cash-out or rate-term refinance
- Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained
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.