1Y Or 2Y P&L – Profit Loss Florida Mortgage Lenders
Our Non-QM 1-year and 2-year P and L Florida mortgage lenders provide P and L loans are designed for self-employed individuals. These loans allow borrowers to use their business’s Profit & Loss (P&L) statements to qualify, bypassing traditional income verification.
Florida Profit and Loss No Tax Return Mortgage Lenders
Self-Employed Profit and Loss Florida Mortgage Lenders
Requirements For Profit and Loss, Florida
• Up to 80% CLTV
• Min Fico 660+
• Loan Amount up to $2.5 Million
• P&L reviewed by a Licensed Florida CPA, CTEC Registered Tax Prepare,r or IRS Enrolled Tax Agent
• Min 3-month Reserves
DTI up to 55% for owner-occupied
• Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
• Temporary rate buydowns available
Program features
- P&L reviewed by a Licensed Florida CPA, CTEC registered Prepar,er or IRS Enrolled Tax Agent
- Loan amounts up to $2.5 million.ion
- Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
- DTI up to 55%
- Temporary rate buydowns are available
Why choose our 1Y Profit and Loss & 2Y P&L?
- Bank statements not required up to 70% LTV
- Income support tolerance 25%
- 1-year business existence may be considered
P and L Florida Mortgage Lenders Program details
- P&L reviewed by a Licensed CPA, CTEC registered Preparer, or IRS Enrolled Tax Agent
- Bank statements not required up to 70% LTV
- Loan amounts up to $2.5 million
- Min FICO 660
- Up to 80% СLTV purchase / cash-out
- Max cash-in-hand $500,000 for CLTV >65%, $1,000,000 for CLTV ≤65% to ≥55%, no max cash-in-hand limitation for CLTV <55%
- DTI up to 55% on owner-occupied
- Min. 3 months of reserves required
- Primary, second home, investment
- At least 25% of the business uses a pro-rated portion of the qualifying income
- Gift funds are allowed; the borrower must contribute at least 20% of their funds, with a maximum of 80% CLTV. Gift funds are not allowed for CLTVs over 80%
- Mortgage history: 0 x 60 x 12, 0 x 30 x 12, and 0 x 90 x 24
- 12 months from bankruptcy or foreclosure
- Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotels, 2-4 units, PUD, short-term rentals, SFR rural, manufactured housing, leasehold
- Eligible terms: 40- & 30-year fixed, 5/6 & 7/6 ARM terms
- 120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period, IO product not allowed in IL
- Eligible Citizenship: US citizenship, permanent and non-permanent residents, and ITIN
- Eligible borrowers: Individuals, LLCs/Corps without a hit
- P and L Florida Mortgage Lenders
