Profit and Loss (P&L) Florida Mortgage Lenders

Yes, you can buy or refinance a Florida home with No Tax Returns using Profit and Loss (P&L) statements to verify the income. These no-tax-return Florida mortgage loans are used to verify the stable income of self-employed borrowers, freelancers, and business owners with no tax returns.  These Florida mortgage loans allow borrowers to get an FHA mortgage in Florida using their business’s Profit & Loss (P&L) statements to qualify, bypassing traditional income verification.
 Profit Loss Florida Mortgage Lenders

Profit And Loss Florida FHA Mortgage Lenders

1. 2+  years P&L statements, the current year-to-date (YTD) P&L, + a current balance sheet.
2.  Must provide proof of 2+  years self-employment with an active business license, an LLC, or an S-Corp.
3. A minimum credit score of 640 is required, AND 3+ tradelines must be open for 12 months.
4. Proof of business insurance is also required for applicable industries.

Profit & Loss Mortgage Considerations:

Income Verification: Instead of Tax returns and W-2s, Florida mortgage lenders analyze a CPA-prepared P&L statement and business bank statements to verify net income.
Documentation: Self-employed borrowers provide a year-to-date (YTD) P&L statement and/or for the previous 1–2 years, usually prepared by a third party like a CPA, Enrolled Agent, or CTEC.
Loan Features: These loans typically offer 0-year fixed terms, loan amounts up to $5 million or more, and debt-to-income (DTI) ratios up to 50%.
Requirements: Generally requires a credit score of 600 or higher, 10%–20% down payment, and 12–24 months of P&L statements.
Cost and Rates: Interest rates for P&L loans are often higher than conventional loans due to the higher risk of non-traditional income verification.
How the Process Works:
Analysis: Lenders evaluate the net profit after business expenses and add back items like depreciation or nonrecurring expenses to determine the true qualifying income.
Approval: Profit and Loss loan approval is based on the actual business performance shown in the statements, not what was reported on tax returns.
Summary: These loans provide flexibility for self-employed borrowers with irregular income, allowing them to purchase or refinance Florida real estate without waiting for tax filing cycles.

Example: Florida Profit and Loss

Self-Employed Profit and Loss Florida Mortgage Lenders

Requirements For Profit and Loss

• Up to 96.5% CLTV
• Min Fico 640+
• 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