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Programs

1Y + 2Y P&L

Min. FICO 660 Up to 80% CLTV

Self-employed individuals have a more difficult time qualifying for a traditional mortgage. At A&D Mortgage, we offer our Non-QM 1-year and 2-year P&L Only loans to help them.

Borrowers can qualify for an A&D loan based on the strength of their business’s Profit & Loss (P&L) statement.

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Features

P&L only prepared by 3rd party CPA
2 months of bank statements required
No tax returns required
Loan amounts up to $4 million
Max cash-on-hand $1 million, no limit CLTV < 55%
P&L by Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer
Max DTI 55%
Super Prime & Prime program
Temporary rate buydowns available
Up to 80% CLTV on 2Y and up to 80% CLTV on 1Y
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Fast turnaround times

Disclosure

24 hours

Underwriting

24 hours

Conditions

24 hours

Closing

24 hours

24 hours

Calculate your scenario

Get detailed information about the potential loan.

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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.

This means no tax returns, transcripts or bank statements are required to qualify under this program.

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.

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#Yes to self-employed

Prime Jumbo

  • FICO 680
  • Up to 75.00% HCLTV
  • Fixed terms available up to $2.5 milliоn
  • Cash out up to 75% HCLTV

Conventional

  • Loan amounts up to $726,200
  • A conventional loan can be used to finance a property in a high-cost area
  • 15-, 20-, 25- & 30-year fixed rate
  • Down payments as low as 3% depending on loan amount