Profit & Loss (P&L) Loans
For Self-Employed Borrowers Using Profit and Loss Statements Crestico’s P&L Loan Program is designed specifically for self-employed individuals who prefer to qualify using their Profit and Loss statements rather than traditional income documentation.
Step 1
Check Eligibility
Step 2
Payment Option
Step 3
Get Approved
Step 4
Close the Loan
Step 5
Repayment & Loan Terms
Profit & Loss Statement Loans for the Self-Employed
Crestico Funding offers 1-year and 2-year P&L Statement loans designed specifically for self-employed borrowers who may not meet traditional income documentation requirements. These loans use your business’s Profit & Loss (P&L) statements to qualify—eliminating the need for tax returns or bank statements in many cases.
Program Highlights:
- Loan amounts from $150,000 up to $4 million
- Available for purchase, cash-out, and rate-term refinance
- Eligible for primary residences, second homes, and investment properties
- CPA or tax preparer-prepared P&L statements required
- No bank statements needed when loan-to-value (LTV) is 70% or less
- 2 years’ seasoning required for foreclosure, short sale, bankruptcy, or deed-in-lieu
Frequently Asked Questions (FAQs)
Can You Qualify for a Mortgage with P&L Statements?
Yes, self-employed borrowers who own a business can qualify for a mortgage using Profit & Loss (P&L) statements. This alternative documentation option is ideal for those who are unable to verify income through traditional tax returns.
Why Should Originators Choose Non-QM Loan Products?
Originators who offer non-QM loan products gain a competitive edge by catering to clients that many traditional lenders cannot serve. By becoming a specialist in non-QM loans, originators position themselves as the go-to expert for these borrowers, leading to more referrals and business growth. This approach ensures consistent volume even in the face of fluctuating interest rates, tighter Agency guidelines, and slower refinance markets.