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Specialty Program

P&L Loan

Qualify with a profit and loss statement.

Overview

A P&L loan lets self-employed borrowers qualify using a profit and loss statement for the business, typically covering the last 12 or 24 months, instead of tax returns.

Ideal For

Business owners whose tax returns don't reflect current earnings, or whose business recently grew.

Program Highlights

  • ✓1-year and 2-year profit and loss statement options
  • ✓P&L prepared by a CPA, CTEC-registered preparer or IRS Enrolled Agent
  • ✓Up to 80% CLTV with a minimum 660 FICO; loan amounts up to $2.5 million
  • ✓No bank statements required up to 70% LTV

Program terms and eligibility are subject to underwriting guidelines and may vary. 1st 2nd Mortgage Co. of N.J., Inc. is licensed in DE, VA. NMLS # 115981.