CPA-Verified Income

P&L Statement Loans

Qualify for a mortgage using a CPA-prepared Profit & Loss statement. Ideal for self-employed borrowers with complex finances who need professional income documentation.

Quick Program Overview

Documentation

CPA-prepared P&L statement (12-24 months)

Loan Amounts

Up to $3M+ (Jumbo available)

LTV

Up to 90% (10% down payment)

Closing Time

21-35 days typical

Two Ways to Qualify

Choose Your P&L Qualification Option

We offer two P&L income evaluation methods to fit your situation. Option 1 provides better rates with bank statement support, while Option 2 offers maximum flexibility.

Best Rates
Option 1: P&L with Bank Statement Support
Better rates with verified deposits

Requirements

  • • CPA-prepared Profit & Loss statement
  • • One supporting bank statement required
  • • Most recent or upcoming statement

Bank Statement Verification

Your bank statement must show deposits equal to at least 80% of 1/12 of the annual net income stated on the P&L.

Example:

P&L shows $180,000 annual net income
→ Monthly: $15,000
→ Required deposit: $12,000 (80%)

Pricing Advantage

Rates are typically 0.25% - 0.50% lower than P&L-only options due to the additional income verification.

Maximum Flexibility
Option 2: P&L Only (No Bank Statement)
Simplified documentation process

Requirements

  • • CPA-prepared Profit & Loss statement only
  • • No bank statement required
  • • Faster document collection

Ideal For

  • • Multiple bank accounts across institutions
  • • Cash-intensive businesses
  • • Complex banking situations
  • • Borrowers who prefer privacy

Pricing Note

Rates are typically 0.25% - 0.50% higher than P&L with bank statement support due to reduced income verification.

Important Note on Rates

Rates differ between Option 1 and Option 2. Always use the most recent or upcoming bank statement when applicable. Your loan officer will help determine which option provides the best overall value for your situation.

Who Qualifies for P&L Statement Loans?

P&L Statement loans are designed for self-employed borrowers who need professional income verification.

Business Owners
Established businesses with professional accounting
  • Multiple business entities
  • Complex corporate structures
  • Professional bookkeeping in place
Professional Practices
Doctors, lawyers, and licensed professionals
  • Medical and dental practices
  • Law firms and legal practices
  • Accounting and consulting firms
Complex Banking Situations
Multiple accounts or cash-heavy businesses
  • Multiple bank accounts
  • Cash-intensive businesses
  • Commingled personal/business funds
Interactive Tool

P&L Loan Calculator

Estimate your monthly payment and see the bank statement requirement for Option 1.

P&L Loan Calculator
Estimate your monthly payment and see if you qualify
$
$
$100,000

Estimated Monthly Payment

$2,695

at 7.125% APR*

Loan Amount

$400,000

DTI Ratio

21.6%

Bank Statement Requirement

Your most recent bank statement must show deposits of at least $10,000 (80% of monthly P&L income)

You likely qualify!

*Rates shown are estimates for illustration purposes only. Actual rates depend on credit profile, property type, and market conditions. Contact us for a personalized quote.

Client Success Stories

Real Stories from P&L Loan Borrowers

See how self-employed borrowers achieved their homeownership goals with P&L Statement loans.

P&L with Bank Statement
Dr. Sarah M.
Medical Practice Owner · San Diego, CA
$1.2M Loan

"After being turned down by two banks due to my complex partnership income, I found NonQM Lending. My CPA prepared a comprehensive P&L statement, and I was approved in just 3 weeks. The rate was competitive, and I'm now in my dream home."

P&L Only
Marcus T.
Restaurant Chain Owner · Miami, FL
$850K Loan

"Running multiple restaurants meant my income was spread across several accounts. The P&L-only option was perfect for me—my accountant consolidated everything, and I didn't have to gather dozens of bank statements. Closed in 28 days!"

P&L with Bank Statement
Jennifer & David K.
E-commerce Business Owners · Austin, TX
$675K Loan

"Our online business has significant inventory costs that made our tax returns look terrible. With the P&L with bank statement support option, we got a much better rate than expected. The process was smooth and professional."

P&L Statement Loan Requirements

Here's what you'll typically need to qualify for a P&L Statement loan.

Minimum Requirements
  • Credit Score: 660+ (720+ for best rates)
  • Down Payment: 10-20% minimum
  • Self-Employment: 2+ years in business
  • Reserves: 6-12 months PITI
Required Documents
  • CPA-prepared P&L statement (12-24 months)
  • CPA letter with license number
  • Business license or formation documents
  • Bank statement (Option 1) or verification docs (Option 2)

P&L Statement Loan FAQs

Get answers to common questions about P&L Statement mortgages

A P&L (Profit and Loss) Statement loan is a Non-QM mortgage that uses a CPA-prepared profit and loss statement to verify income instead of tax returns. This is ideal for self-employed borrowers whose tax returns don't reflect their true earning capacity due to business deductions and write-offs.
While Bank Statement loans use your actual bank deposits to calculate income, P&L loans use a professionally prepared profit and loss statement from a licensed CPA or tax preparer. P&L loans may be easier for borrowers with complex banking situations or multiple accounts, as the CPA consolidates all income into one document.
Most P&L Statement loan programs require a minimum credit score of 660-680. Higher credit scores (720+) will qualify for better interest rates and more favorable terms. Some lenders offer programs for scores as low as 620 with compensating factors like larger down payments.
The P&L statement must be prepared by a licensed CPA (Certified Public Accountant), enrolled agent, or licensed tax preparer. The preparer must sign and date the document, and many lenders require the preparer's license number and contact information for verification.
Most lenders require a P&L statement covering the most recent 12 or 24 months. The statement should be dated within 60-90 days of the loan application. Some lenders may also require year-to-date P&L statements in addition to annual statements.
Yes, P&L Statement loans can be used for primary residences, second homes, and investment properties. Investment properties typically require larger down payments (20-25%) and may have slightly higher rates compared to primary residence loans.
P&L Statement loans typically require 10-20% down payment for primary residences and 20-25% for investment properties. Higher down payments often result in better interest rates and may help offset other risk factors in the application.
P&L Statement loans typically close in 21-35 days. Having your CPA-prepared P&L statement ready before applying can help speed up the process. The verification of the P&L statement and CPA credentials may add a few days compared to other loan types.

Ready to Get Started?

Find out if you qualify for a P&L Statement loan. Get matched with lenders who specialize in CPA-verified income mortgages.