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P&L Only Loan Program 640 Credit Score

Alternative Profit and Loss Statement Income Documentation:

12-Month P&L Only Statement prepared by a Tax Professional CPA, CTEC, Attorney, and EA

The P&L Only mortgage loan program offers up to 85% maximum loan-to-value for purchase or rate & term refinances and 80% for cash-out refinances. Borrowers can secure a loan amount up to $4,000,000 with a minimum credit score of 640. This program provides flexible P&L Only options.

Mortgage Pre-Qualification Form – No Credit Check

Verification of Employment Options: Business Operating Agreement, CPA Letter.

Business operating agreement and a CPA letter. This program simplifies the loan process for self-employed borrowers. Choose the P&L Only mortgage loan for tailored employment verification solutions.

Maximum Loan Amount: $4,000,000

Minimum Credit Score 640

Maximum Debt-to-Income Ratio 55%

LTV Loan Purpose Features: 85% Maximum LTV on Purchase / Rate & Term Refinance, 80% Maximum LTV Cash Out Refinance

Credit ScoreLoan AmountLoan-to-Value (LTV)
640$1,500,00085%
640$2,000,00080%
700$2,500,00085%
720$3,000,00075%
680$2,500,00075%
720$4,000,00065%
700$3,000,00080%
680$2,500,00080%
700$2,500,00075%
660$2,000,00070%

Reserve Requirement: 4 Months Principal, Interest, Property Tax, Homeowners Insurance, and HOA (if applicable)

Eligible Borrowers: Natural Person, LLC, Corporation, ITIN, Foreign National

Gift Money Allowed to 100% LTV/ $0 Borrower Contribution.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Lending

Non-Qualified Lenders

Unconventional Lenders