Your accountant already wrote the document we need.
A P&L only loan, also known as a profit and loss loan, can help self-employed borrowers qualify for a mortgage using profit and loss statements to document their income, rather than a stack of tax returns. If your accountant already prepares clean financials for your business, you already have most of what this program needs.
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A P&L only loan is usually right if this is you
| YOUR SITUATION | WHY THIS LOAN FITS | GO TO |
|---|---|---|
| You have a CPA or a bookkeeper | Someone already producing proper statements is the main prerequisite | Bank statement loans → |
| Your deposits look messy but your books do not | Common where revenue arrives irregularly or through several channels | Bank statement loans → |
| You want the least paperwork possible | This programme asks for less than any other self-employed route | Self-employed → |
| You run several entities | A consolidated statement can be simpler than reconciling multiple accounts | All non-QM → |
| You are established rather than new | P&L programmes generally suit businesses with a track record | Bank statement loans → |
One application. Better options. Simple process.
One simple application gives us what we need to explore the right mortgage options for your unique situation.
1
Submit the documents
Upload the required documents so we can review your application and move your loan forward.
2
We Shop 100+ Lenders
We compare lenders and find the profit and loss program options that actually fit your business.
3
You Choose. We Close
Pick the option that works for you. We handle the process from underwriting to closing.
What a P&L only file needs
A prepared profit and loss statement
Covering the period the lender asks for, and signed by whoever prepared it. This is really the foundation of any mortgage profit and loss statement file, so it needs to be accurate and properly signed before a lender will even look at it.
A qualified preparer
This usually requires a certified public accountant, an enrolled agent, or a licensed tax professional, depending entirely on what your specific lender wants to see. Having the right professional handle your documents ensures everything meets required standards.
Evidence the business exists
You need to provide official documentation like a business license, a formal state registration, or something similar confirming your company is completely real and active. This proof validates your operations for the lender.
A credit history the lender can price
As with any non-QM file, the documentation is flexible and the credit is not.
Sometimes a supporting statement
Some lenders want a short period of bank statements alongside. Some do not.
No rates or figures here on purpose. Yours depend on your credit, the county and the program. A licensed loan officer gives you real numbers on the call.
What to watch for, and we will not bury it
Your accountant has to be willing
Some preparers are cautious about signing statements that will be used for lending purposes. Ask them early rather than waiting until underwriting, when it is much harder to fix.
Fewer lenders offer this than bank statement
It is a narrower market than bank statement lending, which actually makes shopping it more valuable, not less, since pricing can vary quite a bit between the lenders who do offer it.
The statement has to be consistent with reality
It will be read alongside whatever else the lender sees on your file. Numbers that do not reconcile tend to cause problems late in the process, right when you can least afford a delay.
Nadeem Bhatti
Where we place P&L only loans
Maryland
Virginia
Washington DC
North Carolina
Florida
Texas
We are a mortgage company serving these areas. We do not keep a branch in each one. Every mortgage loan is worked from 8115 Maple Lawn Blvd, Suite 350, Fulton, Maryland.
What business owners ask about P&L loans
Who can prepare the profit and loss statement?
Usually a CPA, an enrolled agent, or a licensed tax preparer. Which one is acceptable varies by lender, so it is worth confirming this early if you are planning to apply for a p&l loan.
Do I still need bank statements?
Sometimes. Some lenders want a short supporting period of bank statements alongside your P&L, while others are comfortable working from the profit and loss program documentation alone.
Can I prepare it myself?
Generally no. Most lenders require the statement to come from a qualified preparer rather than the business owner, since the whole point of a p and l loan is having a third party confirm the numbers.
How is this different from a bank statement loan?
A bank statement loan looks at actual deposits hitting your account, while a p&l mortgage loan relies on a prepared financial statement instead. Both are built for self-employed borrowers, but they document income in very different ways.
Is it faster?
Often, yes. A profit and loss loan can move a bit faster than a bank statement file, mainly because there are fewer documents to gather and review, though this depends on how quickly your accountant can turn around the statement.
What if my accountant will not sign a P&L for lending purposes?
This happens sometimes, since not every preparer is comfortable signing statements tied to a mortgage application. If that is the case, a bank statement loan or another non-QM option may be a better fit than trying to force a p&l loan interest rate quote on a statement no one will sign.
See whether a P&L is enough on its own
Send us your latest statement. We will tell you which lenders would work from it, free.