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 only. No bank statements are required.
- FICO 580
- 70% LTV
- Interest Only
- No Income on 1003
- Foreign National allowed
- No prepayment penalty
- Fast closing
- No asset seasoning
- Eligible for Non-Permanent Residents
- No score or FICO 599
- Up to 80% LTV
- Loan amounts up to $3 million
- Cash-out allowed
- DSCR as low as 0
- CPA Letter for last 2 years & year-to-date
- One bank reference letter
- Overseas assets allowed as reserves
- Gift funds allowed
- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements
- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements