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1YR/2YR P&L

The P&L Loan Program, which allows self-employed borrowers to qualify for loans using a CPA or EA prepared Profit and Loss Statement (P&L) instead of tax returns or bank statements, offers several advantages. Here are the key benefits of this program:  


1. No Tax Returns or Bank Statements: Self-employed borrowers who prefer not to use tax returns or bank statements for income verification can benefit from the P&L Loan Program. This alternative documentation method streamlines the application process.  


2. CPA or EA Prepared P&L: Borrowers can rely on a Certified Public Accountant (CPA) or an Enrolled Agent (EA) to prepare their P&L statement. This provides a professional and trusted source of income documentation.  


3. Flexibility: The program offers flexibility in income verification, allowing eligible self-employed borrowers to access financing options for up to $2.5 million. This flexibility accommodates a wide range of financial needs and property values.  


4. Simplified Documentation: By utilizing a P&L Statement, borrowers can simplify the documentation required for the loan application, reducing the complexity and time involved in gathering extensive financial records.  


5. Self-Employed Borrower Eligibility: The P&L Loan Program caters specifically to self-employed borrowers, acknowledging their unique financial situations and income structures.  


6. Access to Higher Loan Amounts: Borrowers can access loan amounts of up to $2.5 million, which is often sufficient for purchasing or refinancing residential or investment properties.  


7. Trustworthy Income Verification: The involvement of a CPA or EA in preparing the P&L statement adds credibility to the income verification process, instilling confidence in lenders.  


8. Streamlined Borrowing Process: The program streamlines the borrowing process for self-employed individuals, making it easier for them to obtain mortgage financing without the need for traditional income documentation.

  • Max Loan Amount $2.5 million

  • 12 or 24 Months Business, Personal or Both Ok

  • No LTV Restrictions for Condos

  • Up to 80% LTV – Exceptions possible

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