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✅ Solution: P&L loans look at net business income, not just tax filings.
✅ Solution: Qualify based on your Profit & Loss statement — no W2s needed.
✅ Solution: Use CPA/Tax Preparer-Prepared P&L statements instead.
✅ Solution: Faster approvals with fewer income documents required.
✅ Solution: Profit & Loss loans let you qualify using true business cash flow — not what’s minimized for taxes.
A P&L loan is a type of Non-QM mortgage designed for self-employed borrowers whose income is calculated using a Profit & Loss (P&L) statement instead of traditional tax returns. This approach allows borrowers to qualify based on actual business performance rather than taxable income, which may be reduced due to write-offs. The P&L must cover either: The most recent 12 months, or the most recent 24 months, and must extend through the most recent full month.
P&L loans are ideal for self-employed borrowers, business owners, freelancers, and 1099 earners whose tax returns may not fully reflect their actual business income due to deductions or write-offs. These loans allow them to qualify based on real cash flow shown in their profit and loss statements.
Most lenders require a year-to-date P&L for the current year and sometimes a full year from the prior tax year.
The P&L can be prepared by a CPA or a tax preparer with a valid PTIN (Paid Preparer Tax Identification Number).
Yes. Most lenders require 2–3 months of recent business bank statements to validate the income shown on the P&L and confirm consistent cash flow.
Most lenders look for a credit score of 640+, but those with lower scores may qualify with a larger down payment.
This website is owned and maintained by Orlando Concepcion, a licensed Mortgage Loan Originator NMLS ID: 2303331 affiliated with Jet Direct Mortgage. The information provided is for educational and informational purposes only and does not constitute a mortgage application, loan offer, or official advice. This site is not affiliated with Jet Direct Mortgage and is intended solely as a personal platform to help consumers better understand real estate investing and Non-QM mortgage solutions such as DSCR, bank statement, and profit & loss loans. If you would like to apply for a mortgage or speak with Orlando in his official capacity as a licensed loan originator, please visit: https://jetdirectmortgage.com/orlando/