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    3. Profit & Loss Mortgage
    Conventional

    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

    Check My EligibilityTalk to a Specialist
    Last reviewed: January 2026 · CMS Mortgage Editorial Team

    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

    FeatureP&L Statement(This loan)Bank Statement
    DocumentationCPA-prepared P&L12-24 months statements
    Prep TimeFaster preparationMore document gathering
    Min Credit Score660+620+
    Best ForOrganized businessesAny self-employed
    CPA RequiredYesSometimes
    Max Loan Amount$3M$3M

    * Rates and terms subject to change. Contact us for current offers.

    FAQ

    Frequently Asked Questions

    Common questions about Profit & Loss Mortgage

    Last updated: May 12, 2026

    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.
    Compare all loan types — Read our comprehensive mortgage guide
    Read the Compare GuideSee how Profit & Loss Mortgage stacks up against other mortgage options
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    Get Started with Profit & Loss Mortgage See Today's Rates
    Top 50 National Brokerage•NMLS #212405

    Let Your CPA Help You Qualify

    Get pre-qualified in 15 minutes with a simple P&L statement

    Check My EligibilityTalk to a Specialist

    Or call us directly: (757) 558-2603

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    • (757) 558-2603
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