P&L LOAN
Great for Fluctuating or Irregular Business Income
P&L non-QM loans make it easier for self-employed borrowers to qualify by using profit and loss statements instead of tax returns, giving a more accurate picture of their income. With flexible guidelines, higher loan amounts, and simpler documentation, they offer a faster path to homeownership than traditional mortgages.
12 Month P&L Only
Profit and Loss Statement w/Tax Preparer Certification
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Uses business profit & loss statements to better reflect true earnings.
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Flexible guidelines for self-employed borrowers with write-offs.
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Faster and simpler documentation process.
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Increased accessibility for entrepreneurs and small business owners.
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No tax returns required. No transcripts required.
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Qualifying income is the lower of the following two options:
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Income indicated on the initial signed 1003
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P&L profit amortized over 12 months
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Tax preparer must be licensed and verifiable. Tax preparers with only a PTIN license are not acceptable.
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Additional income deposited into the bank statements (ie; W2 income, alimony/child support) derived from a source other than the self‐employed business may be used if documented separately.