P&L Only Loan Program

1-year P&L mortgage program, also known as the profit and loss loan program. This program is designed to provide a hassle-free mortgage experience without the need for bank statements. Whether you’re a first-time homeowner or have been through the process before, this program is open to all.

With the 1-year P&L program, you have the flexibility of choosing between a 12 or 24-month P&L (profit and loss) statement. This means that you can provide your P&L statement as the primary document for your loan application, eliminating the need for traditional bank statements.

To qualify for this program, a minimum FICO score of 700 is required. Additionally, loans of up to $4 million are available, allowing you to finance your dream home without limitations. You can purchase a property with up to 80% loan-to-value (LTV) ratio, giving you the opportunity to secure a significant portion of the property’s value.

•             Minimum FICO 700
•             Loans up to $4MM
•             Purchase up to 80% LTV
•             R&T up to 70% LTV
•             Cash-Out up to 70% LTV
•             DTI up to 50
•             Interest Only Available
•             Recent Credit Events Allowed

If you’re looking to refinance, the 1 Year P&L program offers options as well. You can refinance and take advantage of a rate and term (R&T) loan with up to 70% LTV. Alternatively, you can opt for a cash-out refinance with the same 70% LTV limit.

Debt-to-income (DTI) ratio is an important factor in mortgage applications, and with the 1-year P&L program, you can have a DTI ratio of up to 50%. This allows for more flexibility in managing your finances while still qualifying for the loan.

For those who prefer interest-only payments, the 1-year P&L program offers this option as well. You can choose to make interest-only payments for a certain period, providing more control over your monthly budget.

Even if you have experienced recent credit events, such as bankruptcy or foreclosure, you may still be eligible for the 1 Year P&L program. This program understands that financial setbacks can happen, and it aims to provide opportunities for homeownership despite these challenges.

The 1 Year P&L mortgage program is a unique offering that simplifies the mortgage process by eliminating the need for traditional income documents such as tax returns, pay stubs, or W2s. Contact us for more information about this non-qm 1year P&L program.