Profit & Loss Loans

Having trouble getting a loan or mortgage due to income documentation? Fidelity Home Group is experienced in offering non-traditional income loans in Florida. A P&L loan, or “Profit and Loss loan,” is a type of financing typically offered to self-employed individuals or businesses that may not have standard income documentation, such as pay stubs or W-2 forms.

What Are the Requirements?

• Minimum credit score 760
• Minimum down payment of 20% for Single Family Homes 
• Minimum down payment of 25% for Non-Warrantable Condos
• Minimum of 2 years of Self-Employment history
• Loans up to $5 million 
• Debt to Income up to 50% considered
• Primary, Second Homes, and Investment Properties eligible
• 5/1 ARM, 7/1 ARM or 30-year fixed terms available
• No tax returns required
• No Pay Stubs or W2’s required

P&L Loan, or Profit and Loss Loan Program Highlights:

• No bank statements required for loan amounts up to $1,000,000
• Loan amounts up to 1,500,000 with two months business bank statements
• LTV up to 80%, depending on credit score
• Cash-out up to $500,000 for LTV up to 65% and $350,000 for LTV up to 75%
• The P&L must cover the most recent 12 months  [ dated within 60 days of closing date ] 
• Borrower must be self-employed in the same business for 2 years, verified by one of the following: business license, letter from tax preparer, Secretary of State filing or equivalent
• Borrower must own a minimum of 50% of the business 
• P&L must have been provided by a CPA or IRS Enrolled Agent
• $200,000 minimum loan amount.

Fidelity Home Group has experienced mortgage experts who are experts in the field of Non-Traditional Income loans. We offer top tier technology, competitive interest rates, and a commitment to help you achieve your dream of homeownership. We can be contacted several ways to help answer any questions you may have:

Call us at toll free at 888-259-2257 or text us at 407-955-4575