Qualify on your Profit & Loss statement — no tax returns required.
For self-employed borrowers whose tax returns understate their real earnings after deductions, this program lets a CPA-prepared Profit & Loss statement carry the qualification. Your business income does the talking.
Why Buyers Choose It
- No tax returns. Income is verified through a CPA- or accountant-prepared P&L.
- Faster approval. Less paperwork means a quicker path to closing.
- Made for business owners. Entrepreneurs, consultants, freelancers, and contractors.
- Higher qualifying income. Reflects your true business earnings, often unlocking a larger loan or better terms.
- Purchase, rate/term refinance, or cash-out on primary, second, or investment homes.
How It Works
- Submit a 12- or 24-month Profit & Loss statement prepared by a CPA or licensed tax preparer.
- The lender uses the net income from that statement to set your qualifying income.
- No tax returns, W-2s, or pay stubs are needed.
- Approval rests on your credit score, loan-to-value, and P&L income.
Who It's Built For
- Self-employed borrowers with significant tax write-offs
- Entrepreneurs and small business owners
- Real estate professionals, freelancers, and consultants
- Borrowers with seasonal or uneven income
- Investors who need flexible, low-documentation financing
Program Parameters
- Income docs: 12–24 months of CPA-prepared P&L
- Tax returns: not required
- Credit score: 620–660 minimum (700+ preferred for best rates)
- Loan amount: $150,000 – $3,000,000+
- LTV: up to 85% purchase, up to 80% refinance or cash-out
- DTI: up to 50%, case by case
- Occupancy: primary, second home, or investment
- Property types: single-family, condos, townhomes, 2–4 units
- Terms: 30-year fixed, interest-only, or ARM
- Reserves: typically 3–12 months of PITIA
- Prepayment penalty: none on primary/second homes; may apply to investment
- Self-employment: minimum 2 years