P&L  Loan Program

Self-employed and struggling to qualify for a mortgage using tax returns? You’re not alone. Many business owners write off expenses that lower their reportable income, making it difficult to get approved under traditional guidelines. That’s where our P&L Statement Loan steps in.

With this Non-QM mortgage option, borrowers can use a 12-month or 24-month Profit & Loss Statement—instead of W-2s or tax returns—to qualify for home financing. It’s an ideal solution for entrepreneurs, freelancers, and small business owners who need a flexible path to homeownership or investment opportunities.

✅ What’s NOT Needed:

  • No W-2s

  • No pay stubs

  • No bank statements (unless required for reserves)

  • No tax returns

  • Profit & Loss Statement:

    • Covering 12 or 24 months (1-year or 2-year option).

    • Must be prepared and signed by a CPA or licensed tax preparer.

    • Should reflect accurate gross income, expenses, and net profit.

  • CPA Letter or Tax Preparer Attestation:

    • Confirms the validity and preparation of the P&L statement.

  • Business License or Proof of Business Ownership:

    • Sole proprietor: DBA registration.

    • LLC or Corporation: Articles of Incorporation, EIN, etc.

  • Valid Government-Issued ID:

    • Driver’s license or passport.

  • Minimum Credit Score:

    • Usually 620+, but requirements vary by lender.

  • Asset/Reserve Documentation (if required):

    • May need to show 3-6 months of reserves depending on loan size.

  • Property Appraisal:

    • Standard appraisal required for purchase or refinance.

  • Purpose: Designed for self-employed borrowers who prefer to qualify using their business’s Profit & Loss (P&L) statement.

  • Documentation Options:

    • 1-year P&L

    • 2-year P&L

  • No Tax Returns Required: Bypasses traditional income verification like W-2s or full tax returns.

  • Ideal For:

    • Sole proprietors

    • LLC or corporation owners

    • Entrepreneurs with complex or fluctuating income

  • Who Prepares the P&L: Must be prepared and signed by a licensed CPA or tax preparer.

  • Loan Purpose: Purchase, refinance, or cash-out refinance.

  • Minimum Credit Score: Typically starts at 620 (may vary by lender).

  • Loan Amounts: Often available from $100,000 to multi-million range.

  • Down Payment: As low as 10% depending on credit and reserve requirements.

  • Interest Rates: Competitive for Non-QM products.

  • Use of Funds: No restriction—can be used for primary, second home, or investment property.

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