What Is a P&L Only Loan

P&L-only loans are based on profit and loss statements.

How Do P&L Only Loans Work and Who Do they Benefit (AD Mortgage)

P&L-only loans are designed for self-employed borrowers who are having trouble qualifying for traditional mortgages. Borrowers qualify through their business's profit and loss statements.

What Are The Requirements and How to Qualify (AD Mortgage)

·      FICO 580

·      Profit and Loss (P&L) by licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer for 1 or 2 years

Benefits (AD Mortgage)

·      Up to 85% Combined Loan to Value (CLTV) on 2Y and up to 80% CLTV on 1Y

·      Max 90% LTV

·      Max Debt to Income (DTI) 55%

·      Loan amounts up to $4 million

·      No bank statement required

·      Cryptocurrencies accepted for reserves, down payments and closing costs