Profit and Loss (P&L) Loan Program
Qualify using a Profit & Loss statement — not traditional tax returns.
Get Pre-Qualified for a Conventional Loan Today
Submit your information and see what you qualify for today.
What Is a Profit & Loss (P&L) Loan?
A Profit and Loss loan is a Non-QM mortgage program that allows self-employed borrowers to qualify using a prepared and signed P&L statement instead of full tax returns.
Instead of analyzing complex deductions on tax returns, lenders review documented business performance to determine qualifying income.
Profit & Loss Loan Features
- Qualification based on a P&L statement
- Primary residence & second home allowed
- Investment properties allowed
- Flexible documentation
- Competitive Non-QM rates
Profit & Loss Loan Requirements
Documentation
P&L prepared and signed by an accountant Must cover one full year of income and expenses Last 3 bank statements supporting reported income
Occupancy
Primary residence Second home Investment property (minimum 20% down)
Credit & Down Payment
10% down – 740 credit score 15% down – 700 credit score 20% down – 640 credit score
ITIN Borrowers
15% down – 700 minimum score 20% down – 660 minimum score
Why Choose USA Loans for Your P&L Loan?
We understand non-traditional income.
- Specialized in Non-QM programs
- Experience with self-employed income structuring
- Clear documentation checklist
- Fast underwriting review
- Personalized guidance from start to closing
Profit & Loss Loan FAQs
Common questions about Conventional Loans
Do I need tax returns?
No. Qualification is based primarily on a prepared P&L statement and supporting bank statements.
Who prepares the P&L statement?
A licensed accountant must prepare and sign the Profit & Loss statement.
Can I use this program for an investment property?
Yes. Investment properties are allowed with minimum 20% down.
Is this considered a Non-QM loan?
Yes. P&L loans fall under Non-QM mortgage programs.
