The Profit & Loss Only Loan Program is designed for self-employed borrowers who prefer to qualify using a CPA-prepared or borrower-prepared Profit & Loss statement instead of tax returns.
Program Highlights
– No tradeline requirement (with 3 credit scores)
– Minimum Credit Score: 660
– Up to 85% LTV (program-dependent)
– 12 or 24 months bank statements accepted
– Up to 80% LTV for non-owner-occupied properties
– Unlimited cash-in-hand allowed
– Cash-out proceeds may be used as reserves
– 3-month cash-out seasoning permitted
– Loan amounts up to $3,000,000+
Eligible Property Types
– Single-Family Residences (SFR)
– Condos & Condotels
– Studios
– 2–4 Unit Properties