One document. No tax returns. No bank statements.
See If I Qualify
about 55 seconds left60 seconds · no hard credit pull · never sold
What type of property is this?*
A P&L-only loan is the no-ratio, no-income-verification program: you qualify on a single profit-and-loss statement prepared by a CPA or licensed tax preparer. Self-prepared P&L and future-income-projection options are available too.
- One document to qualify — the P&L alone
- No tax returns, no bank statements
- Up to 80% LTV on a purchase — 75% on a refinance
- Starts at 640 FICO
- Loan amounts from $150,000
- No self-employment requirement — W-2 and self-employed both welcome
- No deposit-by-deposit account review
- Business owners with heavy write-offs
- 1099 contractors
- Turned down elsewhere on income
- Skipping 12–24 months of statements
Built to do what conventional financing can't.
Qualify on stated profit
Income comes from the profit-and-loss statement, so the write-offs that lower your tax bill don't count against you.
Skip the paper chase
No tax returns, no W-2s or pay stubs, and none of the 12 to 24 months of bank statements other programs ask for.
Not only for the self-employed
There's no self-employment requirement. If you have real income and solid credit but were declined on documentation, this may fit.
Purchase, rate-and-term, or cash-out
The same one-document approach works across loan purposes, and a second-position HELOC can be documented with a P&L as well.
Sound like your situation? Answer a few questions and I'll show you what you qualify for — about 60 seconds, no hard credit pull.
Check my options →Credit sets the leverage.
Minimum 640 FICO and a $150,000 loan amount. Your credit band sets the down payment or the maximum LTV.
- FICO score680+
- Purchase20% down (80% LTV)
- Refinance (rate-and-term or cash-out)75% LTV
- FICO score660 – 679
- Purchase25% down (75% LTV)
- Refinance (rate-and-term or cash-out)75% LTV
- FICO score640 – 659
- Purchase30% down (70% LTV)
- Refinance (rate-and-term or cash-out)70% LTV
A second-position HELOC documented with a P&L requires 680+ FICO.
- A P&L from your CPA or licensed tax preparer
- 640+ FICO (680+ for a second-position P&L HELOC)
- Self-employed, 1099, or a business owner with heavy write-offs
- A purchase, a rate-and-term refinance, or a cash-out
- Loan amounts start at $150,000
- Purchases: 20%, 25%, or 30% down depending on your credit band
- Refinances: 75% LTV at 660+, 70% LTV at 640–659
- Self-prepared P&L and future-income-projection options exist; ask which your scenario needs before you order anything
What you need, and what you skip.
What you need
- One profit-and-loss statement
- 640+ FICO
- The down payment or equity for your credit band
What you skip
- Tax returns
- Bank statements and deposit reviews
- W-2s and pay stubs
Good to know.
What is a P&L-only loan?+
Also called a profit-and-loss statement loan or P&L mortgage, it qualifies you on one P&L instead of tax returns. There are no bank statements, no deposit reviews, and no W-2 employment verification.
Who prepares the P&L?+
A CPA or licensed tax preparer. Self-prepared options exist as well, including future income projections.
Do I need tax returns or bank statements?+
No. The profit-and-loss statement is the income document.
What credit score and down payment do I need?+
640 FICO and a loan of $150,000 or more. Purchases need 20% down at 680+, 25% at 660–679, and 30% at 640–659. Refinances go to 75% LTV at 660+ and 70% at 640–659. A second-position P&L HELOC needs 680+.
Who is it best for?+
Self-employed borrowers, 1099 contractors, and business owners whose tax returns understate what the business actually earns.
Still have a question about your own scenario? Start here and I'll answer it with your numbers in front of me.
Check my options →Let's build your structure.
Tell me your goal and the numbers. You'll get a clear, no-pressure plan — and the rate that fits it.