Profit And Loss Only Loan
Best for self-employed borrowers with fluctuating income
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Ca Perry
This loan is ideal for self-employed individuals who may not have traditional income documentation but can demonstrate earnings through their business profit and loss statements.
Benefits
- Qualify using business profit and loss statements
- No need for tax returns or traditional income verification
- Flexible terms for self-employed individuals
- Available for primary, secondary, or investment properties
- Competitive interest rates
- Simplified application process
- Fixed and adjustable-rate options available
Eligibility requirements
- Minimum credit score, typically 620+
- Detailed profit and loss statement for the past 12-24 months
- Business must be active for at least two years
- Debt-to-income ratio typically below 45%
- Property must meet lender standards
- Adequate cash reserves may be required
- Meet lender-specific requirements
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team@mymortgageally.comOther loans
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