Profit & Loss Mortgage
“Let your CPA help you qualify.”
A CPA-prepared Profit & Loss statement is all you need. Faster and simpler than gathering months of bank statements. Perfect for established businesses with good bookkeeping.
10%+
Min Down
660+
Min Credit
$3M
Max Loan
Down payment and credit requirements vary by loan program, credit profile, occupancy, and property type. All loans subject to credit approval and program eligibility.
Is This Loan Right for You?
This Loan is Perfect If You...
- Established business with 2+ years in operation
- Good bookkeeping and organized finances
- Have a CPA or accountant relationship
- Want a faster, simpler qualification process
- Credit score 660 or higher
This Might NOT Be Right If...
- New business (less than 2 years old)
- Disorganized finances or poor bookkeeping
- No CPA or accountant relationship
Profit & Loss Mortgage Benefits
Everything you need to know about your benefits
CPA-Prepared P&L
One professional document instead of months of bank statements
Faster Process
Less document gathering than bank statement loans
CPA Verification
Your accountant vouches for your income accuracy
Up to $3M
High loan amounts for established businesses
Business Friendly
Designed for organized, established companies
Simple Documentation
Streamlined requirements for qualified borrowers
How It Works
Your path to homeownership in just a few simple steps
Your CPA Prepares P&L
Have your accountant create a profit & loss statement covering 1-2 years
CPA Provides Verification
Your CPA issues a letter confirming the accuracy of the P&L statement
We Calculate Your Income
We use the P&L income figures for your loan qualification
Close Faster
Less document gathering means a quicker path to closing
Your CPA Prepares P&L
Have your accountant create a profit & loss statement covering 1-2 years
CPA Provides Verification
Your CPA issues a letter confirming the accuracy of the P&L statement
We Calculate Your Income
We use the P&L income figures for your loan qualification
Close Faster
Less document gathering means a quicker path to closing
Loan Details
Documentation Required
- CPA-prepared Profit & Loss statement (1-2 years)
- CPA verification letter (required)
- Business license or registration
- Government-issued photo ID
- 2 months recent bank statements (for assets)
- Asset documentation
Eligible Property Types
- Primary residence
- Second home
- Investment property (1-4 units)
- Condos and townhomes
- Single-family homes
Additional Info
- Business must be operating 2+ years
- CPA must be licensed and in good standing
- P&L must be dated within 90 days
- No stated income - CPA verifies accuracy
- Available up to 90% LTV
P&L vs Bank Statement Loans
| Feature | P&L Statement(This loan) | Bank Statement |
|---|---|---|
| Documentation | CPA-prepared P&L | 12-24 months statements |
| Prep Time | Faster preparation | More document gathering |
| Min Credit Score | 660+ | 620+ |
| Best For | Organized businesses | Any self-employed |
| CPA Required | Yes | Sometimes |
| Max Loan Amount | $3M | $3M |
* Rates and terms subject to change. Contact us for current offers.
Frequently Asked Questions
Common questions about Profit & Loss Mortgage
Last updated:
What does my CPA need to provide?
Your CPA needs to prepare a formal Profit & Loss statement covering the most recent 1-2 years of business income, plus a verification letter on their letterhead confirming the accuracy of the figures.
Can my bookkeeper prepare the P&L instead?
No, the P&L must be prepared by a licensed CPA (Certified Public Accountant) for most lenders to accept it. A bookkeeper-prepared P&L typically won't meet underwriting requirements.
How recent does the P&L need to be?
The P&L should cover the most recent 12-24 months of business activity and be dated within 90 days of your loan application to be considered current.
- Yes, typically. Having your CPA prepare one professional document is often simpler and faster than gathering, organizing, and submitting 12-24 months of bank statements.
- The P&L needs to show sufficient positive income to qualify for your loan amount. If your P&L shows losses or inconsistent income, a bank statement loan analyzing deposits may be a better option.
- Yes, you'll typically need 2 months of recent bank statements for asset verification and reserves, but these aren't used for income qualification - your P&L handles that.
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Let Your CPA Help You Qualify
Get pre-qualified in 15 minutes with a simple P&L statement
Or call us directly: (757) 558-2603