Self Employed - Profit & Loss

1-2 Year Profit & Loss Statement as Income

No Bank Statements Required

Fast and Easy Application Process

Statement Completed by CPA or Licensed Tax Preparer

Loan Amounts up to $3 Million

What is a Self Employed - Profit & Loss Loan?

A Self-Employed Profit & Loss Loan is a Loan Product designed for self-employed individuals who want an easier loan process and less-stringent document requirements. As opposed to tax returns or 12+ months of bank statements, this program only requires a profit & loss statement to use as qualifying income. This statement must be prepared by a CPA or licensed tax preparer or a self-prepared profit and loss statement and be used with 3 months of corresponding bank statements to support the documented income. This program allows a borrower to show their business’ profitability even if their tax returns and bank statements do not reflect this information.

Self Employed - Profit & Loss Loan Requirements

There are a few requirements for this loan that differ from a conventional mortgage.

Borrower needs to be self-employed
Must be able to provide P & L Letter completed by CPA or Licensed Tax Preparer
Two years of documented self-employment history

There are other loan requirements depending on circumstance, please reach out to a loan officer for specific loan questions.

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