Programs

1Y + 2Y P&L

Min. FICO 660 Up to 80% CLTV

Our Non-QM 1-year and 2-year P&L loans are designed for self-employed individuals. These loans allow borrowers to use their business's Profit & Loss (P&L) statements to qualify, bypassing traditional income verification.

Program features
  • P&L reviewed by Licensed CPA, CTEC registered Preparer or IRS Enrolled Tax Agent
  • Loan amounts up to $2.5 million
  • Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
  • DTI up to 55%
  • Temporary rate buydowns available
Why choose our 1Y & 2Y P&L?
  • Bank statements not required up to 70% LTV
  • Income support tolerance 25%
  • 1-year business existence may be considered
Download file

Download program PDF

Download

Struggling with a loan scenario? Push the button and get a solution in 30 minutes!

Program request

Write to us, we will contact you within 30 minutes.

Name *

Fill out this field

Company Name *

Fill out this field

Company NMLS (optional)

Fill out this field

Company State *

Fill out this field

Phone *

Fill out this field

Email *

Fill out this field

Inquire *

Fill out this field
Please, accept the privacy policy
error

Oops...

Something went wrong.

Please try again
loading
Thank you

Thank you!

We’ll contact you as soon as possible

Program details

P&L reviewed by Licensed CPA, CTEC registered Preparer or IRS Enrolled Tax Agent
Bank statements not required up to 70% LTV
Loan amounts up to $2.5 million
Min FICO 660
Up to 80% СLTV purchase / cash-out
Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
DTI up to 55% on owner-occupied 
Min. 3 months of reserves required
Primary, second home, investment 
At least 25% of the business using a pro-rated portion of qualifying income 
Gift funds are allowed; the borrower must contribute at least 20% of their own funds with a maximum of 80% CLTV. Gift funds are not allowed for CLTVs over 80% 
Mortgage history: 0 x 60 x 12, 0 x 30 x 12, and 0 x 90 x 24
12 months from bankruptcy or foreclosure
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotels, 2-4 units, PUD, short-term rentals, SFR rural, manufactured housing, leasehold 
Eligible terms: 40- & 30-year fixed, 5/6 & 7/6 ARM terms 
120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period, IO product not allowed in IL 
Eligible citizenship: US citizenship, permanent and non-permanent residents 
Eligible borrowers: Individuals, LLCs/Corp without a hit 
Show more
Quick Pricer

Calculate your scenario

Get detailed information about the potential loan.

Quick Pricer

Fast turnaround times

Disclosure

24 hours

Underwriting

24 hours

Closing

24 hours

24 hours

1Y + 2Y P&L FAQ

What is a Profit and Loss mortgage?

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.

Who can get a Profit & Loss mortgage?
  • Businesses/self-employed workers who received income exclusively from cash and may not keep perfect records of their transactions.
  • Businesses/self-employed workers with seasonal income, and/or make intermittent deposits that do not follow a regular predictable pattern on a weekly or monthly basis.
  • Businesses/self-employed workers that have been in business for more than 2 years.

Ready to get started?

Write to us, we will contact you within 30 minutes.

Get in Touch