P&L Loan Program

Our Non-QM 1-year and 2-year P&L loans are designed for self-employed individuals. These loans allow borrowers to use their business's Profit & Loss (P&L) statements to qualify, bypassing traditional income verification.

Program features

P&L reviewed by Licensed CPA, CTEC registered Preparer or IRS Enrolled Tax Agent
Loan amounts up to $2.5 million
Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
DTI up to 55%
Temporary rate buydowns available

Why choose our 1Y & 2Y P&L?

Bank statements not required up to 70% LTV
Income support tolerance 25%
1-year business existence may be considered

Program details

P&L reviewed by Licensed CPA, CTEC registered Preparer or IRS Enrolled Tax Agent
Bank statements not required up to 70% LTV
Loan amounts up to $2.5 million
Min FICO 660
Up to 80% СLTV purchase / cash-out
Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
DTI up to 55% on owner-occupied
Min. 3 months of reserves required
Primary, second home, investment
At least 25% of the business using a pro-rated portion of qualifying income
Gift funds are allowed; the borrower must contribute at least 20% of their own funds with a maximum of 80% CLTV. Gift funds are not allowed for CLTVs over 80%
Mortgage history: 0 x 60 x 12, 0 x 30 x 12, and 0 x 90 x 24
12 months from bankruptcy or foreclosure
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotels, 2-4 units, PUD, short-term rentals, SFR rural, manufactured housing, leasehold
Eligible terms: 40- & 30-year fixed, 5/6 & 7/6 ARM terms
120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period, IO product not allowed in IL
Eligible citizenship: US citizenship, permanent and non-permanent residents, ITIN
Eligible borrowers: Individuals, LLCs/Corp without a hit