Self prepared P&L Loan

What is the Self prepared P&L？

Self prepared P&L is a good choice for self-employed borrowers who can not be qualified with agency loan and do not want to provide varities of income documents.

Self Prepared P&L Program Highlights

CPA Prepared P&L

30 Years Fixed
♦ Max Cash-In-Hand $500,000 for LTV > 60%.
♦ 2nd Home/Investment: Max LTV 70% for C/O Refi.
♦ Warrantable Condo /2-4 Units: Max LTV 70% for C/O Refi.
♦ Non-warrantable Condo: Max LTV 65% for C/O Refi.
♦ FTHB without housing history max LTV 70%.
♦ Max DTI 53%.

♦ Foreign National Allowed.

please call for price:
• loan amt <$150K • C08 with LTV <=70% • Rural Property

Self Prepared P&L

5/6 ARM, 7/6 ARM

♦ More Easier to Qualify!
♦ Only Self Prepared P&L Required
♦ Primary, Second Home and Investment
♦ No Tax Return Needed
♦ No Prepaid Penalty
Available in CA, CO, GA, NV, TX, VA and WA.

What is P&L? Who can apply for P&L?

• Are you a self-employed borrower?
  • Did your mortgage lender require business bank statements and signed tax returns with transcripts for loan qualification?
  • Have you ever been suspended or denied by the agency lenders? Did your lender ever deny your application based on their internal guidelines?
  • Do you know how you can qualify a house loan without any income documents?
  P&L (Profit & Loss) is designed for self-employed borrowers who typically write off a lot on their tax returns to lower their income that would not be sufficient to qualify for agency programs, would benefit from alternative loan qualification methods. A CPA/CTEC/EA completed and signed P&L may be used as an alternative to tax returns to document a self-employed borrower’s income. In addition, a self-prepared P&L from borrowers can sometime be accepted.

The Benefits of Self prepared P&L

For self-employed borrowers, the 12/24 month bank statement program is often a better choice, as this program doesn’t require tax returns or business bank statements. However, for those with a more complex financial situation involving multiple bank statements, the P&L program may be the best choice. If a business has statements from three bank accounts, this restriction could lead to the P&L program being a more suitable option.

Self Prepared P&L Fast Approval Requirements

When submitting loan applications, lenders may need a YTD (Year-to-Date) P&L (sometimes including prior year’s P&L), a business license, a CPA letter, among other things.
Submission Team is available to calculate income for the borrower before submitting a loan.

If you have any questions about Self prepared P&L program,