Own a business? A home loan built around your P&L.
Profit and loss statement loans are non-QM mortgages for people who work for themselves. Tell us where the home is and one licensed lender in your state can go over your options.
- Free, With No Obligation
- No Credit Check to Start
- One Licensed Lender
- Straight Answers
Who It's For
Business owners and other self-employed borrowers who keep a profit and loss statement and whose tax returns, after write-offs, don't reflect what the business earns.
What to Know
Lenders must still check you can repay
Before making a mortgage, a lender must make a reasonable, good-faith judgment that you can repay it. It must consider your income or assets, your debts and monthly payments, and your credit history.
Source: Federal regulations, 12 CFR 1026.43: Ability-to-repay and qualified mortgage ruleIncome needs reliable proof
The federal rule says a lender must verify the income it relies on with third-party records that are reasonably reliable. Tax returns, W-2s, payroll statements and bank records are among its examples.
Source: Federal regulations, 12 CFR 1026.43: Ability-to-repay and qualified mortgage ruleWhat Non-QM Means
A Qualified Mortgage is a loan with less risky features: no interest-only period, no growing balance, no balloon payment, no term over 30 years and limited upfront fees. Loans outside those rules are often called non-QM.
Source: CFPB, CFPB: What is a Qualified Mortgage?How a Standard Loan Sees Self-Employment
Fannie Mae counts you as self-employed if you own 25 percent or more of a business, and generally asks for a two-year history of your earnings, shown with tax returns.
Source: selling-guide.fanniemae.com, Fannie Mae Selling Guide B3-3.2-01: Underwriting factors and documentation for a self-employed borrower
How It Works
Answer a Few Questions
Your goal, your ZIP code, your home and your timing. About two minutes, with no contact details until the last step.
Get Matched With One Lender
We find one licensed lender in your state that takes this kind of loan, and show you its name first.
Hear From That Lender
If you choose to send your request, that lender reaches out. You decide what happens next.
Four Things You Can Check
The Lender's License
You see the lender's name and NMLS ID before you share your number. Anyone can look a lender up on NMLS Consumer Access.
Look Up a Lender's LicenseHow We Get Paid
Lenders pay us a flat fee when you ask to be contacted. You never pay us. The fee is the same whether or not you take out a loan.
Read How We Get PaidWho Gets Your Request
One lender, named on the form before you send it. Every lender who may get a request is listed with its NMLS ID.
See Our Lender PartnersOur Sources
Every guide ends with a list of its sources, such as HUD, the CFPB, Fannie Mae and Freddie Mac.
Browse the Guides
Common Questions
Does the profit and loss statement have to come from a CPA?
It depends on the lender. There's no single federal standard for these loans, so each lender sets its own rules, such as who must prepare or sign the statement, how many months it covers and whether it also wants bank statements. The lender will tell you what it needs.
Can a profit and loss loan have an interest-only payment or a balloon payment?
It can, because a loan that isn't a Qualified Mortgage isn't held to those limits. Read your Loan Estimate and ask the lender whether the payment can change, how long the term is and whether a large payment comes due at the end.
Will the lender check my credit?
Yes, if you apply. Credit history is one of the things a lender must consider under the ability-to-repay rule. Sending a request through this site isn't an application and doesn't involve a credit check.