Your P&L Tells the Story Your Returns Don't.
P&L-only loans let business owners qualify using a CPA-prepared profit & loss statement — no tax returns and, for eligible borrowers, no bank statements. A self-employed mortgage for owners whose books reflect their income better than their 1040.
CPA P&L Statement
Income Docs
10%
Min. Down Payment
620
Min. Credit Score
$3M+
Max Loan Amount
What is a P&L-only loan?
A P&L-only loan is a non-QM mortgage that lets a business owner qualify using a profit & loss statement — typically CPA-prepared — instead of tax returns. For eligible borrowers it requires no tax returns and no bank statements, reading net business income directly from the P&L. It's built for established self-employed borrowers in Oregon and California whose books reflect their income better than a write-off-reduced tax return.
Best for: Established business owners with organized, CPA-prepared books whose tax returns understate their true profitability.
CPA P&L
Income Docs
10%
Min. Down Payment
620
Min. Credit Score
$3M+
Max Loan Amount
Not Required
Tax Returns
Overview
A Self-Employed Mortgage Built on Your Profit & Loss
For many business owners, the cleanest picture of their income isn't a tax return or a stack of bank statements — it's their profit & loss statement. A P&L-only loan qualifies you using a CPA-prepared (and in some cases self-prepared) P&L for the business, capturing net income the way your accountant reports it rather than the way it nets out on a write-off-heavy 1040.
This is a non-QM (alternative-documentation) program within our broader [self-employed mortgage](/loans/residential/self-employed) suite. For eligible borrowers it requires no tax returns and no bank statements — the P&L, paired with verification that you've been in business and own the company, does the work. It's especially strong for established owners with organized books and a CPA relationship, where a documented P&L tells a clearer income story than 12–24 months of deposits.
We work hand-in-hand with your CPA or tax preparer to coordinate the P&L and supporting documentation efficiently, and we'll run your scenario against our bank statement and 1099 programs too — so you can see which path produces the strongest qualifying income before you commit. Available throughout Oregon and California.
Who This Is For
P&L-Only Loans — Serving Oregon and California Business Owners
From medical and legal practices to consulting firms, design studios, and established sole proprietors, we help business owners across Oregon and California qualify on the income their books actually show. Bring your CPA-prepared P&L and we'll show you your qualifying income across every self-employed program before you shop for a home.
Key Features
What Makes This Program Work
Qualify on a CPA-Prepared P&L
We use a profit & loss statement for your business — typically CPA-prepared — to establish qualifying income. For eligible borrowers, no tax returns and no bank statements are required.
No Tax Returns, No Deposit Averaging
Unlike bank statement loans that average deposits, the P&L program reads your net business income directly from the statement, which is often cleaner for owners with multiple accounts or irregular deposit patterns.
Down Payments From 10%
Qualified borrowers can purchase with as little as 10% down, with loan amounts from $150,000 up to $3,000,000+ — without jumbo-style reserve requirements for most scenarios.
We Coordinate With Your CPA
We partner directly with your accountant or tax preparer to request exactly what's needed — the P&L plus business verification — and nothing extraneous, keeping the process fast and low-friction for you both.
Captures Your Real Profitability
If aggressive deductions shrink your taxable income on paper, a documented P&L can reflect the actual profitability of the business — frequently producing a higher qualifying income than the conventional method.
Cleaner File, Fewer Surprises
A well-prepared P&L can streamline underwriting versus full tax-return analysis with transcripts — particularly for owners with complex returns or recent extensions.
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Requirements
General Qualifications
Ready to See If You Qualify?
Every borrower's situation is unique. Give us 15 minutes and we'll review your financial picture, identify every program you qualify for, and walk you through your options — at no cost and with no obligation.
Licensed in Oregon & California · NMLS #1498678
Related Programs
Self-Employed Mortgage Loans
The full hub of alternative-documentation programs for business owners and the self-employed — bank statement, 1099, asset depletion, and more.
Bank Statement Loans
Qualify on 12–24 months of personal or business deposits — a strong fit when your deposits best reflect your income.
1099 Income Loans
Paid on 1099s? Qualify directly from your 1099 forms instead of tax returns or a P&L.
Asset Depletion Loans
High liquid assets but limited documentable income? Convert your assets into qualifying income.
Interactive Tool
P&L-Only Loans Payment Calculator
Estimate your monthly principal & interest, total interest paid, and amortization schedule. Adjust purchase price, down payment, rate, and term to model your scenario before you talk to a lender.
Mortgage Calculator
Estimate your monthly payment instantly
Estimated Monthly Payment
$4,258/mo
Loan Amount
$750,000
Interest Rate
5.499%
*Estimate only. Actual costs may vary.
FAQ
Common Questions
Side-by-Side Comparison
How Does P&L-Only Loans Compare?
Compare key requirements, costs, and features at a glance — so you can choose the right loan for your situation.
P&L-Only vs. Bank Statement vs. Conventional
Self-employed business owner in Oregon or California
| P&L-Only | Bank Statement | Conventional | |
|---|---|---|---|
| Income Documentation | CPA-prepared P&L | 12–24 mo bank deposits | 2 yrs tax returns + W-2s |
| Tax Returns Required | No | No | Yes |
| Bank Statements Required | No (eligible borrowers) | Yes | Yes |
| Qualifying Income Basis | Net income on the P&L | Averaged deposits | Net taxable income |
| Min. Down Payment | 10% | 10% | 3% |
| Min. Credit Score | 620 | 620 | 620 |
| Best For | Owners with organized CPA books | Owners whose deposits show income | W-2 borrowers with clean returns |
From the Blog
Further Reading
Self-EmployedBank Statement Loans for Self-Employed Borrowers: How to Qualify Without Tax Returns in Oregon & California
Self-employed borrowers write off everything they can on their tax returns — which is smart for taxes but devastating for mortgage qualification. Bank statement loans solve that problem entirely. Here's how they work, who qualifies, and why they've become the most popular non-QM product for business owners in Oregon and California.
Self-Employed$195K Taxable vs. $875K Gross: Why Consultants Need Bank Statement Loans
A consultant grossing $875,000 but reporting $195,000 in taxable income loses more than half their purchasing power under conventional underwriting. Bank statement loans close that gap by qualifying on actual deposits — not tax returns. Here’s exactly how the math works and why this is the most important mortgage decision a high-earning consultant will make.
Self-EmployedHow Two Self-Employed Business Owners Got a Bank Statement Refinance on Their Rural Oregon Property — After Another Lender Said No
Two self-employed Oregon borrowers with three businesses, a private note coming due, and tax returns that didn't tell the whole story. Here's how Lumen Mortgage closed their rural bank statement refinance in under 30 days — after another lender couldn't get it done.
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