P&L Loan

For Self-Employed borrowers with Profit and Loss statements.

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. 

640

Min Fico

(Up to 75% LTV)

80%

Max LTV

(Minimum 680 FICO)

P&L W/ 2 months of Bank Statements

Minimum 640 mid score
Up to Max LTV 80%
Max Loan Amount: $3 million

P&L only

Minimum 720 mid score
Up to Max LTV 80%
Max Loan Amount: $2 million

  • Loans up to $3 million (minimum of $150,000)
  • Purchase, Refi Cash Out, Refi Rate & Term, & Delayed Financing
  • Owner-occupied, second homes, and investment properties
  • Prepared by CPA/Tax preparer
  • Two years' seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Please contact an Angel Oak Account Executive for complete qualification

FAQ’s

A P&L Loan is a Non-QM mortgage that qualifies self-employed borrowers using a CPA-prepared Profit and Loss statement instead of tax returns.
Self-employed borrowers with established businesses and documented operating history may qualify if they provide an acceptable Profit and Loss statement prepared by a licensed professional.
Bank statements may not be required at lower loan-to-value ratios. Higher LTV transactions may require additional documentation to support income stability.
Purchase, rate and term refinance, cash-out refinance, and delayed financing may be permitted. Primary residences, second homes, and investment properties may qualify.
A P&L Loan relies on prepared financial statements to determine income, while a Bank Statement Loan analyzes deposit history and may apply standardized expense factors.

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.

Additional Program Options

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