Rated 4.9/5 Google Reviews  ·  30,000+ Loans Closed Company-Wide Last Year  ·  Licensed in 49 States

Self-Employed
P&L Mortgage Loans

Qualify using CPA-prepared profit and loss statements — when traditional tax returns don't show your full income picture. No W2s. No tax returns. No personal income documents required.

  • Loans from $150K to $3M+
  • Purchase, Cash-Out Refi & Rate/Term available
  • Primary, second home & investment properties
  • 12 or 24-month P&L statements accepted
  • 620+ credit score typically required

P&L loan eligibility varies by lender guidelines, credit profile, LTV, business income, loan amount, and property type. Final approval is subject to underwriting and lender approval. Closing timelines are estimates only and depend on lender processing, appraisal, title, and borrower conditions — actual timelines may vary.

NMLS #181106
4.9 Google Rating
30,000+ Loans Closed Last Year
Licensed in 49 States
20+ Years Experience

What Is a P&L Loan?

A Profit & Loss (P&L) loan is a non-QM mortgage that qualifies self-employed borrowers based on their business income as shown in a 12 or 24-month P&L statement — not their tax returns. It's one of the most borrower-friendly tools available for entrepreneurs, business owners, and independent contractors.

Traditional mortgage underwriting penalizes self-employed borrowers. Years of legitimate tax write-offs reduce reported taxable income — often making a thriving business owner look unqualified on paper. A P&L loan solves this by looking at what your business actually earns, not what remains after deductions.

P&L loans are available for primary residences, second homes, and investment properties. They're ideal for any self-employed individual whose real income isn't reflected on a standard 1040 — including sole proprietors, S-corp owners, LLC members, freelancers, and gig economy workers.

Barrett Financial's P&L loan program is designed to give hardworking self-employed borrowers a fast, straightforward path to homeownership and investment financing — with minimal documentation and a streamlined underwriting process.

How P&L Loans Qualify You
Monthly Gross Revenue − Business Expenses = Qualifying Income
12-Month Average monthly net profit from the last 12 months of P&L statements
24-Month Average monthly net profit from the last 24 months — often yields better rate pricing
Quick Income Estimator
Est. Qualifying Income
—

This estimator is for illustrative purposes only and does not constitute a loan approval or commitment to lend. Actual qualifying income is determined by the lender based on verified P&L documentation and full underwriting review.

Is This Right For You?

P&L loans are built for business owners who look great on paper — just not traditional lender paper. You may be a strong candidate if any of these apply:

✓ You've been self-employed for 2+ years in the same field
✓ Your tax write-offs make your taxable income look lower than your actual earnings
✓ You have 12 or 24 months of CPA-prepared profit & loss statements
✓ You're purchasing or refinancing a primary home, second home, or investment property
✓ Your business generates strong revenue even if reported taxable income appears low
✓ You've been turned down by a traditional lender despite running a profitable business
See If I Qualify →

Who This Works Best For

Business Owners

Run a business? Your tax write-offs may disqualify you for conventional loans even if you're profitable. A P&L loan qualifies you on your actual business revenue and net profit — not your post-deduction taxable income.

Freelancers & Contractors

Consultants, contractors, creatives, and gig economy workers with variable or 1099 income can qualify using a 12 or 24-month P&L showing consistent business revenue — no employer letter needed.

Real Estate Investors

Investors with complex returns from depreciation, losses, and multiple properties can finance additional purchases using a P&L that reflects actual business cash flow — without getting penalized by the tax code.

Sole Proprietors & LLC Owners

Whether you're a single-member LLC, S-corp, or sole proprietor, your business entity structure won't disqualify you. P&L loans are designed to work with the way self-employed borrowers actually organize their income.

High-Deduction Earners

If your CPA has maximized your business deductions — depreciation, vehicle, home office, retirement contributions — your taxable income may look far lower than your actual cash flow. A P&L loan sees through that to your real earnings.

Declined by Traditional Lenders

Been told no by a bank or conventional lender because your tax returns show too little income? That's exactly who P&L loans are built for. Strong revenue, solid credit, and 2 years of self-employment is often all you need.

Real Borrowers. Real Results.

★★★★★

"I have now used Barrett Financial for two loan transactions and as a self employed business owner, that process can always be challenging but the entire Barrett Financial Team made the process easy. I will be using them for all future real estate financing needs."

Carey
★★★★★

"I was told no by my bank because of my write-offs. Barrett walked me through the P&L loan process, got my CPA involved. Couldn't believe how smooth it was."

Alyssa
★★★★★

"It was a tough journey in getting funding but they pulled it off and helped make our dream of owning the home of our dreams, a reality. If you have special circumstances, self employed, and need someone to stand side by side with you, this is your team! They get it done!"

Reymundo

Testimonials reflect individual experiences and do not guarantee similar results. Individual loan outcomes vary based on credit profile, income documentation, property type, and lender guidelines.

How the P&L Loan Process Works

Free Consultation — No Credit Pull

Start with a free, no-obligation consultation. Share your loan goal, property type, how long you've been self-employed, and your estimated monthly business revenue. No credit pull required to get started.

Get Your Rate

A Barrett Financial P&L specialist will review your income scenario and match you with the best available programs — presenting your personalized rate options with no obligation.

Submit Docs & Close

Provide your 12 or 24-month P&L statements and a few supporting business documents. Our team guides you through underwriting and closing.

P&L Loan Program Details

Rates vary based on your qualifying income, LTV, credit score, and property type. Complete the form below for a personalized rate quote — no commitment required.

Loan Amounts
$150,000 – $3,000,000+
P&L Period
12 or 24 months accepted
Max LTV
85% purchase / 75% cash-out
Credit Score
620+ minimum typically required
Property Types
Primary, Second Home, Investment
Loan Terms
30-yr fixed, ARMs, interest-only
Entities
LLCs & corporations accepted
Income Documentation
P&L statements only — no tax returns

P&L loan eligibility varies by lender guidelines, credit profile, LTV, business income, loan amount, and property type. Final approval is subject to underwriting and lender approval.

Lending Across the Country

Georgia Arizona North Carolina Florida Tennessee Texas Colorado Nevada + 30+ More States

Looking for a P&L loan in your state? Start your application and we'll confirm eligibility.

P&L Loan FAQs

A P&L loan (Profit & Loss loan) is a non-QM mortgage that qualifies you based on your business's profit and loss statements rather than tax returns or W2s. Lenders calculate your qualifying income by averaging your monthly net profit from 12 or 24 months of P&L statements. This allows self-employed borrowers to access mortgage financing based on their actual business earnings — not the reduced taxable income that results from legitimate write-offs.
Core documentation typically includes 12 or 24 months of business profit & loss statements (CPA-prepared or borrower-prepared depending on the lender), proof of business ownership (such as a business license or entity formation documents), and evidence the business has been operating for at least 2 years. Credit, appraisal, title, and standard closing documents apply as with any mortgage. Notably, you do not need to provide personal tax returns, W2s, or pay stubs.
Yes. P&L loans are specifically designed for self-employed individuals — sole proprietors, S-corp owners, LLC members, independent contractors, and anyone who earns income through a business rather than a traditional employer. If you receive a W2 from a company you don't own, you would typically qualify through standard income documentation. If your primary income comes from owning or operating a business, a P&L loan may be your best path to financing.
Most P&L loan programs require at least 2 years of self-employment history in the same field. This demonstrates business stability and gives lenders a reliable income track record to underwrite against. Some programs may accept 12 months of self-employment in certain circumstances — speak with a Barrett Financial specialist to discuss your specific scenario. The longer your track record, the more competitive your rate options are likely to be.
A CPA-prepared P&L is signed and certified by a licensed CPA or tax professional, which most lenders view as the gold standard — it typically unlocks better rates, higher LTVs, and easier approval. A borrower-prepared P&L is created by the business owner without CPA certification. Some P&L loan programs accept borrower-prepared statements, often with slightly more conservative terms. Barrett Financial works with both — ask your specialist which type best fits your lender options.
Most P&L loan programs require a minimum credit score of 620. As with any mortgage, a higher credit score typically unlocks better interest rates and lower down payment requirements. Borrowers with 700+ credit scores tend to see the most competitive P&L pricing. Complete our quick quote form and a Barrett Financial specialist will assess your full credit profile and match you with the best available programs for your score range.
Both are non-QM alternatives for self-employed borrowers, but they use different documents to verify income. A bank statement loan looks at 12 or 24 months of personal or business bank deposits to calculate average monthly income. A P&L loan uses your business's profit and loss statements, which are prepared on an accrual or cash basis and can reflect income more clearly without requiring analysis of individual transactions. In some cases, one method will show a higher qualifying income than the other — a Barrett Financial specialist can run both scenarios to find your best option.

Ready to Get Your P&L Rate Quote?

Answer a few quick questions and a Barrett Financial specialist will follow up with your personalized rate — no commitment required.

Prefer to call? Reach us at 1-800-941-7690