P&L loans
Ideal for self-employed borrowers who take a lot of deductions at tax time
Qualify your borrower based on the strength of their business with a 24-month Profit & Loss Statement
P&L LOAN
Qualifying income is the net income from the P&L divided by the time period covered (12 months). Must be CPA/CTEC or EA compiled.
- 12-month CPA/EA/CTEC prepared
- Minimum FICO 660
- Max DTI 50%
- Loan Amount Up to $3M
- Up to 80% LTV on Purchase and Rate & Term Refinance
- Interest-Only Available
- Primary, Second Home & Investment OK
- First Time Homebuyers OK
See product matrix for more details.