Programs

1Y + 2Y P&L

Min. FICO 660 Up to 80% CLTV

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.

Features

P&L by Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer
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%
Up to 80% CLTV on 2Y and up to 80% CLTV on 1Y
Max DTI 55%
Super Prime & Prime program
Temporary rate buydowns available
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Fast turnaround times

Disclosure

24 hours

Underwriting

24 hours

Conditions

24 hours

Closing

24 hours

24 hours

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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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