A Mortgage That Reads Your Actual Business — Not Just Your Tax Return
If your Profit & Loss statement tells a stronger story than your tax return, we have the loan for it. Qualify using a 1-year or 2-year P&L prepared by a CPA, Enrolled Agent, or IRS-verifiable IPIN holder — no bank statements needed at 720+ FICO.
Your Books Tell the Story.
We Help Lenders Read Them.
A P&L loan skips the tax return entirely. Instead of measuring your taxable income — which your CPA has worked hard to minimize — lenders review your actual business Profit & Loss statement to understand what your business really earns.
Get Your P&L Prepared by a Qualified Professional
Your P&L must be prepared and signed by a licensed CPA, an IRS Enrolled Agent (EA), or an IRS-registered IPIN-verified tax preparer. The statement can cover 1 or 2 years depending on which shows stronger income.
We Calculate Your Qualifying Income
The lender uses the net income figure from your P&L — your gross revenue minus business expenses — to determine your monthly qualifying income. No W-2, no tax return, no pay stubs required.
Bank Statements? Only If Your FICO Is Below 720
Borrowers with a 720+ FICO qualify on the P&L alone — no bank statements needed. If your score is between 640–719, supporting statements may be required.
Close — Often Faster Than Conventional
Without the tax return review process, files can move quickly. As your broker, I coordinate directly with underwriting to keep your timeline on track.
CPA — Certified Public Accountant
A state-licensed CPA is the most commonly accepted preparer. Their license is verifiable, their standards are nationally recognized, and most lenders treat CPA-prepared P&Ls as the gold standard for non-QM income documentation.
Standard AcceptanceEA — IRS Enrolled Agent
An Enrolled Agent is federally licensed by the IRS and authorized to represent taxpayers in all matters. EA-prepared P&Ls carry the same weight as CPA-prepared statements for this loan program.
Fully AcceptedIPIN Holder — IRS-Verifiable Tax Preparer
A tax preparer with an IRS-issued Identity Protection PIN (IPIN) whose credentials can be verified directly on the IRS website qualifies as an accepted P&L preparer. This expands access for borrowers who work with credentialed preparers who may not hold a CPA or EA license — including many in immigrant communities.
Available on This ProgramImportant: The P&L must be signed by the preparer and reflect actual business activity for the period covered. Personal P&Ls are not accepted — the statement must be for a business entity or sole proprietorship with documentable revenue.
1-Year vs. 2-Year P&L — Know Your Options
Both programs use your Profit & Loss statement to qualify — the difference is the income period reviewed. Choose the option that reflects your business most favorably.
| Loan Range | $150,000 – $3,000,000 |
| Max LTV | 80% (680+ FICO) |
| Min LTV Tier | Up to 75% LTV (640 FICO) |
| Bank Stmts Required? | No — if FICO ≥ 720 |
| P&L Period | Most recent 12 months |
| Preparer Required | CPA, EA, or IPIN holder |
| Seasoning (BK / FC) | 2 years |
Eligible Transactions
- Purchase
- Refinance — Rate & Term
- Refinance — Cash Out
- Delayed Financing
- Owner-Occupied Primary Residence
- Second Home
- Investment Property
| Loan Range | $150,000 – $3,000,000 |
| Max LTV | 80% (680+ FICO) |
| Min LTV Tier | Up to 75% LTV (640 FICO) |
| Bank Stmts Required? | No — if FICO ≥ 720 |
| P&L Period | 2 consecutive annual P&Ls |
| Preparer Required | CPA, EA, or IPIN holder |
| Seasoning (BK / FC) | 2 years |
Eligible Transactions
- Purchase
- Refinance — Rate & Term
- Refinance — Cash Out
- Delayed Financing
- Owner-Occupied Primary Residence
- Second Home
- Investment Property
FICO & LTV Matrix
Your credit score determines both your maximum LTV and whether bank statements are required to support the P&L.
| FICO Score | Max LTV | Bank Statements Required? | Notes |
|---|---|---|---|
| 720+ | 80% | Not Required | P&L alone qualifies — cleanest path |
| 680 – 719 | 80% | May Be Required | Supporting bank statements may be requested by lender |
| 640 – 679 | 75% | Typically Required | Higher LTV restriction; bank statements to support P&L |
| Below 640 | Not Eligible | — | Consider bank statement or alternative program |
Your Tax Preparer Doesn’t Need a CPA License — Just IRS Verification
This is a program feature that opens the door for borrowers whose trusted tax preparer holds an IRS Identity Protection PIN (IPIN) rather than a CPA or EA license. If the preparer’s credentials are verifiable through the IRS website, their P&L is accepted.
This matters most for self-employed borrowers — including many in immigrant communities — who have worked with the same trusted preparer for years. You don’t need to switch to a CPA to qualify.
Ask About IPIN QualificationYour preparer holds an IRS Identity Protection PIN
The IRS issues IPINs to protect taxpayer identities. A preparer with a registered, active IPIN has a verifiable IRS identity on file.
Credential is verified via IRS.gov
Unlike unlicensed preparers, IPIN holders can have their status confirmed through the IRS public directory — giving lenders a verification path.
They prepare and sign your P&L
The preparer drafts a business Profit & Loss statement covering 1 or 2 years and signs it, just as a CPA or EA would.
Lender accepts the P&L for income qualification
With IRS verification confirmed, the P&L is eligible for this non-QM program — no CPA upgrade required.
The P&L Loan Is Built for Business Builders
If you run any kind of business — sole proprietor, LLC, S-Corp, partnership — and you have a professionally prepared P&L, this program may be your fastest path to a mortgage.
Business Owners
LLC owners, S-Corp shareholders, and sole proprietors whose tax returns reflect deductions that reduce qualifying income below their actual cash flow.
Established Self-Employed Professionals
Consultants, doctors, attorneys, accountants, and tradespeople who run their own practice or business with clean, bookkeeper-maintained financials.
Growing Businesses (1-Year P&L)
If your business income has grown significantly in the past year and a 2-year average would pull your qualifying income down, the 1-year option captures your current momentum.
IPIN-Verified Borrowers
Self-employed borrowers — including many immigrants and first-generation entrepreneurs — whose trusted preparer holds an IRS-verifiable IPIN rather than a CPA or EA license.
Investors & Second Home Buyers
Looking to purchase a rental property or second home without subjecting yourself to full income documentation? The P&L loan works for non-owner-occupied transactions too.
Cash-Out Refinance Borrowers
Already own property and want to access equity without the full conventional documentation gauntlet? Cash-out refi is available under this program up to 80% LTV.
P&L vs. Other Self-Employed Loan Programs
Not sure which self-employed program is right for you? Here’s how the P&L loan compares to bank statement and 1099 programs at a glance.
| Feature | P&L Loan | Bank Statement Loan | 1099 Income Loan |
|---|---|---|---|
| Tax Returns Required? | No | No | No |
| Bank Statements Required? | No (720+ FICO) | Yes (12–24 months) | Sometimes |
| Primary Income Doc | CPA / EA / IPIN P&L | Personal or Business Bank Stmts | 1099 Forms + YTD Earnings |
| Max Loan Amount | $3,000,000 | $4,000,000 | $3,000,000 |
| Max LTV | 80% | 90% (720+ FICO) | 90% (720+ FICO) |
| Min FICO | 640 | 640 | 640 |
| Investment Property OK? | Yes | Yes | Yes |
| Best For | Business owners with clean P&L books | High-revenue businesses, cash flow reliant | Freelancers, contractors, gig workers |
Not sure which fits your situation? Call us — we’ll review your income documentation and match you to the right program.
Ready to See If Your P&L Qualifies?
You’ve done the work to build your business. You should be able to use it to build your wealth too. Whether you’re buying, refinancing, or pulling cash out — fill out the form and I’ll personally review your situation and let you know exactly where you stand.