At A&D Mortgage, a leading mortgage lender, we offer Non-QM 1-year and 2-year P&L loans tailored for self-employed individuals. These loans allow borrowers to use their business’s Profit & Loss (P&L) statement to qualify, bypassing traditional income verification. A Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer prepares the P&L statement, crucial for our P&L loan program. We provide loans up to $4 million, with up to 80% CLTV, making our P&L loans a flexible and accessible mortgage solution for self-employed clients.
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When self-employed borrowers are unable to qualify under GSE mortgage guidelines, Profit and Loss (P&L) Statement mortgages offer a simple solution. Our P&L allows us to determine the monthly qualifying income of your clients based solely on 1- or 2-year P&L statements prepared by either their CPA or a licensed tax preparer.
While this means that no tax returns or transcripts are required to qualify under this program, A&D Mortgage still needs two months of banks statements to verify income.