P&L Only Loan

A P&L Only loan is a mortgage solution designed for self employed borrowers who may not want to provide full tax returns or bank statements to qualify. Instead of using traditional income documentation, this program allows qualification using a 12 month Profit and Loss statement prepared by a CPA, EA, CTEC, or licensed tax preparer.

This loan option helps mortgage brokers serve self employed clients whose tax returns may not fully reflect actual cash flow. It is often used for borrowers who own businesses, write off significant expenses, or need a simpler alternative to full documentation underwriting.

P&L Only Loan Features

• Up to 80% max LTV for purchase
• Rate and term refinance, and cash out refinance
• Gift funds allowed for full down payment when LTV is below 75%
• Maximum loan amount up to 3.5 million dollars
• Temporary buydown option available
• Minimum FICO score 660

Documentation Requirements

• 12 month Profit and Loss statement
  prepared by CPA, EA, CTEC, or tax attorney
• Business documents when applicable
• Verification of tax preparer license status
• Signed Profit and Loss statement and tax attestation

Who This Loan Helps

This program is ideal for self employed borrowers who need mortgage financing without bank statements and whose business income can be supported through professionally prepared profit and loss documentation.

Mortgage brokers can use this option to qualify borrowers who may not fit conventional income documentation guidelines.