Profit and Loss Program

What is a P&L Loan?

A profit and loss (P&L) loan program is a type of mortgage that allows self-employed individuals and business owners to qualify for a loan using their business’s P&L statement instead of traditional income verification. P&L loans are designed to be more flexible than conventional loans, which often require a steady income and a clear job history. They can be ideal for people whose income might fluctuate or might not be easily captured through traditional employment documentation. Borrowers do not have to own 100% of the business.

Key Features of the P&L Only Loan Program:

  1. Maximum 80% Loan-to-Value (LTV) on Purchase, Rate & Term, or Cash Out
  2. Possibility of 100% Down Payment gifted for LTV below 75%
  3. Maximum Loan Amount of $3.5 million
  4. Minimum FICO score requirement of 660

What’s Required:

  • 12-month Profit and Loss Statement prepared by a CPA/EA/CTEC/Tax Attorney
  • Borrower’s business documents, if applicable
  • Verification of Tax Preparer’s license status
  • P&L Statement & Tax Attestation

P&L Loan Highlights:

  1. Loans up to $3 million with a minimum of $150,000
  2. Available for Purchase, Cash Out, or Rate/Term Refinance
  3. Suitable for Owner-Occupied, Second Homes, and Investment Properties
  4. Prepared by CPA/Tax Preparer
  5. Requires 2 months of business bank statements showing deposits supporting gross receipts within 15%
  6. Lower seasoning requirements for foreclosures, short sales, bankruptcies, or deed-in-lieu situations
  7. Minimum FICO score requirements:
    • 640 for up to 75% LTV
    • Maximum 80% LTV with a minimum FICO score of 660

Tailored for Self-Employed Individuals:

Our 1-year and 2-year Profit & Loss Statement loans are tailored to meet the unique needs of self-employed borrowers like you. By utilizing your business’s Profit & Loss statement to qualify, this program offers a streamlined and efficient approach to securing mortgage financing without the hassle of traditional income verification methods.

Contact us today to explore how our Profit and Loss (P&L) Only Loan Program can expand your mortgage options and provide a seamless financing solution for your self-employed clients. Experience a new way of qualifying for loans tailored to your business’s financial performance.


Receive a quick rate quote instantly.

  • No obligations
  • No impact on credit score
  • Fast and easy process
  • No documents required