Self-employed borrowers often face challenges when applying for a conventional mortgage. We offer a solution designed specifically for business owners and entrepreneurs: the P&L Only Mortgage Program. With this program, you can qualify for a mortgage without providing bank statements to support your personal and living (P&L) income, just a tax preparer-prepared Profit & Loss (P&L) statement.
What Is a P&L Only Mortgage?
A P&L-only mortgage is a loan that uses a Profit & Loss statement as the primary method of income verification. This means you don’t need to provide tax returns or other income documentation. Instead, a simple P&L prepared by your tax professional can get you approved.
Program Highlights:
- Up to 85% LTV – Borrow up to 85% of your property’s value.
- Loan amounts up to $3,500,000 – Perfect for high-value properties.
- No bank statements required – No need to support P&L income with bank statements.
- Less than 2 years self-employed considered – Great for new business owners.
Who Should Consider a P&L Only Mortgage?
This program is ideal for:
- Self-employed borrowers with fluctuating income.
- Small business owners who write off expenses on taxes.
- Entrepreneurs who want a simplified documentation process.
For more information about our non-QM loan programs, we suggest contacting our office or filling out a fast quote, and someone will reach out to you.