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
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