P&L Loan
For Self-Employed borrowers with Profit and Loss statements.
- Loans up to $4 million with a minimum of $150,000
- Purchase, Refi Cash Out, Refi Rate & Term, & Delayed Financing
- Owner-occupied, second homes, and investment properties
- Prepared by CPA/Tax preparer
- Two years’ seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- No bank statements required to support P&L if LTV is 70% or less
Min FICO
640
(Up to 75% LTV)
Max LTV
80%
(Min 680 FICO)
Our 1099 income loan option is for underserved self-employed borrowers who are 1099 workers. Many freelancers, contractors, gig economy workers or other self-employed borrowers who file using W-9s cannot qualify for a mortgage under Agency guidelines. These underserved borrowers can use 1099 earning statements in lieu of tax returns to qualify for a mortgage. Our 1099 Income loan is an alternative loan solution that helps many self-employed 1099 earners achieve homeownership.