P&L loans: your profit and loss is the whole income file.
Qualify on one document, a P&L from your CPA or licensed tax preparer, instead of tax returns or bank statements; some programs take a self-prepared P&L or a future-income projection. Your deductions won't be held against you, and self-employment isn't required.
See If I Qualify
What's your primary goal?
Pick the one that sounds most like you.
Reviewed personally by Arran Amorozo · NMLS #1491497 · West Capital Lending
No credit check to complete this quiz · your info is never sold
60 seconds · no hard credit pull · never sold
- 640+ credit to qualify.
- Purchases: 20% down at 680+, 25% at 660–679, 30% at 640–659 (rentals 20% minimum).
- Refinances, rate-and-term or cash-out: up to 75% of value at 660+, 70% at 640–659.
- Loans from $150,000 to $5,000,000.
- No tax returns, bank statements, W-2s or pay stubs: you qualify on the profit your P&L shows, not your taxable income.
- Prepared by a CPA or licensed tax preparer, and unaudited is fine. Some programs accept a self-prepared P&L or a projection of future income.
- You don't have to be self-employed: W-2 earners, 1099 contractors and business owners can all qualify with a P&L.
- Primary residences, second homes and investment properties.
- A HELOC in second position can be documented with a P&L too, at 680+ credit.
- From 620 to 639, a bank statement loan (620+) is the fit, and that's where the quiz sends you. Below 620, on a home you live in with real equity in AZ, CA, FL, MO, OH, OR, PA, TN, UT, VA, WA & WY, a Home Equity Investment may work instead.
Rather just talk? Call or text us at (949) 401-7593
1 doc
To qualify
640+
Minimum credit
80%
Max loan-to-value, purchase
75%
Max loan-to-value, refinance
0
Tax returns or bank statements
Purchases: 20% down at 680+, 25% at 660–679, 30% at 640–659. Refinances, rate-and-term or cash-out: up to 75% of value at 660+, 70% at 640–659. A HELOC in second position can be documented with a P&L too, at 680+ credit. Most programs want the P&L from a CPA or licensed tax preparer; some accept a self-prepared one.
Straight Answers Up Front
Can we fund your deal? Check before you apply.
We'd rather tell you now than waste your time. Here's what we can and can't do, plainly stated.
We can help with:
- 640+ credit, primary or investment, purchase or refinance
- Purchases: 20% down at 680+, 25% at 660–679, 30% at 640–659
- Refinances up to 75% of value at 660+, 70% at 640–659
- A HELOC in second position documented with a P&L, at 680+ credit
- Below 620: refinancing a home you live in and own free and clear in Oregon & Washington, with a loan over $200,000 at up to 50% of value
- Loans from $150,000 to $5,000,000
- W-2, 1099 and self-employed borrowers with a P&L
We're not the right fit for:
- P&L loans under 640 credit (620–639: see Bank Statement), except the Oregon & Washington free-and-clear refinance below 620
- Loans under $150,000 (see Bank Statement)
- Properties outside the 35 states + D.C. where Arran is licensed
If your score improves, come back. We'd genuinely love to take another look. A gray-area scenario? Call or text (949) 401-7593.
Simple Qualifications
One document does the work.
Built for anyone whose tax returns understate what they really earn, self-employed or not.
What You Need
Just a few things.
- A P&L from a CPA or licensed tax preparer (self-prepared or projected on some programs)
- 640+ credit (680+ for a second-position HELOC)
- A down payment or equity that fits your credit band
- Purchase, rate-and-term or cash-out
What You Skip
The paperwork you won't need.
- No tax returns
- No bank statements
- No deposit-by-deposit review
- No W-2s or pay stubs
Who it fits
Who a P&L loan is built for
Write-offs that work against you
Depreciation, vehicle and home-office deductions keep your taxes low, and your qualifying income low with them. A P&L reports the profit the business really makes.
You haven't filed yet
Filing on extension, partway through the year, or running a company too new for a full return? A P&L for the current period does the job a return can't yet.
A business on the way up
Last year doesn't reflect what you earn now? Some programs accept a forward-looking income projection. Ask us whether yours qualifies.
Turned down for income
A bank decline based on your returns isn't the final word. A P&L presents your income the way the business actually runs. Send us the denial letter and we'll see what went wrong.
Not self-employed? Still welcome
Many P&L programs are sold as self-employed only. The programs we shop aren't: W-2 earners and 1099 contractors qualify too, as long as a P&L documents the income.
The program
P&L loan terms at a glance
| Term | P&L loan |
|---|---|
| What qualifies you | A single profit and loss statement: no tax returns, bank statements, W-2s or pay stubs |
| Who prepares it | Usually a CPA or licensed tax preparer (unaudited is fine); some programs take a self-prepared P&L or an income projection |
| Loan amounts | $150,000 to $5,000,000 |
| Minimum credit | 640 |
| Purchases | 20% down at 680+, 25% at 660–679, 30% at 640–659 |
| Rentals | At least 20% down |
| Refinances, rate-and-term or cash-out | Up to 75% of value at 660+, 70% at 640–659 |
| Second-position HELOC on a P&L | 680+ credit |
| Self-employment required? | No |
| Hard credit pull to see options | No |
Need less than $150,000, or is your credit under 640? There's usually another door: a bank statement loan (620+ credit), the HELOC (lines from $50,000) or the no-income-verification HELOC (680+ credit, lines of $150,000+) can often help.
Compare the options
P&L, bank statement or no-income HELOC?
| Program | What stands in for income | Minimums | Best fit |
|---|---|---|---|
| P&L loan (this page) | One profit and loss statement | 640+ credit · $150K+ loan | A profitable business whose returns and deposits both undersell it |
| Bank statement loan | 12 months of personal or 12 or 24 months of business statements | 620+ first position · 660+ second | Steady deposits, credit from 620 to 659, or a loan under $150,000 |
| No-income-verification HELOC | No income documents at all | 680+ credit · $150K+ line | Owners with strong credit and equity who'd rather not share financials |
Generally, better credit means fewer documents. Not sure where you land? A short call sorts it out.
What you'll need
Documents to have ready
- The profit and loss statement
- A government-issued ID
- Your current mortgage statement, if you're refinancing
That's normally it. If your accountant wants to know how lenders like the P&L laid out, we'll send them the format lenders look for.
Broker, not a single lender
We shop many lenders for your P&L loan
Arran is a mortgage broker, so your file isn't stuck with one lender's rulebook. On an income-documentation loan that matters: a file one lender turns down can fit another lender's guidelines. We shop your scenario across many lenders' P&L programs, and you'll know exactly which lender and program you're in before anything is final.
Check my options →Calculator
Loan Calculator
Estimate your monthly payment and total interest over the loan term.
Enter the rate you want to model. We don’t advertise rates; your pricing is quoted individually.
Loan Term
Enter an interest rate above to see your results.
Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.
Products
A program for nearly every scenario.
More programs are in the tabs at the top. Need something else? Call or text (949) 401-7593.
- Our Most Popular Product
5-Day HELOC
Qualify on household income, no income docs at 680+ on lines of $150K+, keep your low-rate first mortgage
See HELOC options → - Investors
Investment (DSCR)
The rent qualifies, not your W-2
See DSCR options → - Cash In Hand
Refinance / Cash Out
Pull cash out for your next investment, or roll your debts into one loan
See Refinance options → - Buy & Hold
Rental Property Loan
Long- or short-term rentals, 1–4 units: the rent qualifies, 20% down to buy
See Rental Loans options → - Speed
Hard Money
Asset-based: close in days, not months. Purchase or refinance
See Hard Money options → - Strong Credit
Conventional
620+ credit. Up to 80% LTV cash out, 95% LTV rate and term
See Conventional options → - Primary Residence
FHA Loan
3.5% down at 620+. Up to 80% LTV cash out, 97.5% LTV rate and term
See FHA options → - Veterans
VA Loan
Veterans and active duty: 0% down at 620+, no PMI, up to 100% LTV
See VA options → - No Monthly Mortgage Payment
Reverse Mortgage
55+: equity access, no monthly mortgage payment
See Reverse options → - Credit From 500
Equity Investment (HEI)
Cash for your equity. No monthly payments, credit from 500
See HEI options → - Bank Deposits
Bank Statement
Your bank deposits qualify you, not your tax returns
See Bank Statement options → - No Income Docs
No-Ratio
Investment properties: 680+ credit, no income docs, up to 65% LTV
See No-Ratio options → - Buying a Home
Purchase
Get pre-approved for your next home
See Purchase options → - Let the quiz decide
Not Sure? Show Me Options
Fill out the quiz and Arran will personally match your scenario to the right program you qualify for
Find my program →
Our Process
From first question to funded, in four steps.
No guesswork. No pressure. Just a clear path to the right loan.
- 1
Tell us your scenario
Answer a few questions online in about 60 seconds, or call or text (949) 401-7593. Seeing your options takes no hard credit pull.
- 2
We shop your options
We shop your scenario across many lenders and lay out the trade-offs plainly, so you can pick the fit.
- 3
Apply and get approved
Complete the full application. We tell you up front which documents your program needs, and nothing more.
- 4
Close, and keep us on call
Sign and fund. When the next purchase, refinance or line of credit comes up, you already know who to call.
Guides
Go deeper before you decide.
Plain-English guides with the same numbers the quiz uses.
P&L Statement Loans: How One Document Qualifies You
How a profit and loss statement loan works: who prepares the P&L, the 640 floor, down payments and refinance limits by credit band, and when another lane fits.
Read the guide →No Income Verification Mortgages: What's Real for Your Home
What no income verification really means on your own home: the ability-to-repay rule, P&L, bank statement and no-income HELOC lanes, and No-Ratio for rentals.
Read the guide →FAQ
Frequently Asked Questions
Common questions about Profit & Loss Loan loans.
Get Started Today
Straight answers, fast.
Check your P&L Loan options in about 60 seconds with no hard credit pull, or call or text and talk it through with Arran's team.
Rather pick a time? Book a call
West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.