Best Profit and Loss (P&L) Only Lenders for Self-Employed Borrowers (2026)
P&L-only loans qualify you on a profit-and-loss statement prepared by a CPA, EA, or licensed tax preparer — sometimes with no bank statements at all. The lightest-documentation path for established business owners who can produce clean financials.
Typical Rates
7.5%–9.75% (approx.)
Max LTV
Up to 85% (purchase)
Typical Terms
30-year fixed or ARM
Min Credit
640–680
What Are Profit and Loss (P&L) Only Loans?
For a business owner with a good accountant, the profit-and-loss statement is the single cleanest snapshot of how the business is doing. P&L-only loans lean on exactly that: a CPA, enrolled agent, or licensed tax preparer prepares a profit-and-loss statement, and the lender uses the net profit as qualifying income. Some programs pair it with a few bank statements; the most streamlined versions rely on the P&L alone.
Who Are Profit and Loss (P&L) Only Loans Best For?
- Established business owners with organized financials
- Borrowers who work with a CPA or tax professional
- Self-employed buyers wanting minimal document collection
- Owners whose deposits are complex but profits are clear
Pros & Cons
Pros
- +Qualify on a CPA-prepared P&L statement
- +Some programs require few or no bank statements
- +Fast, clean documentation for organized businesses
- +Available for owner-occupied purchase and refinance
Cons
- –Requires a third-party preparer (CPA, EA, or licensed tax preparer)
- –Slightly higher credit minimums than some other non-QM loans
- –Lenders may still request supporting bank statements
- –Two years of self-employment typically expected
Best P&L Only Lenders (11)
These lenders offer profit and loss (p&l) only loans, ranked by our editor rating. Click any lender for a full review with detailed terms and expert analysis.
| Lender | Rates | Max LTV | Min Credit | Speed | Best For | Rating |
|---|---|---|---|---|---|---|
| Griffin Funding | 7.25%–9.75% | 90% | 620 | 21–35 days | Self-employed borrowers, Apply direct (no broker) | 4.5 |
| Angel Oak Mortgage Solutions | 7%–9.75% | 90% | 620 | 25–40 days | Broadest non-QM menu, Via broker only | 4.5 |
| New American Funding | 7%–9.5% | 90% | 620 | 21–40 days | Apply direct (no broker), Full product menu | 4.0 |
| Northpointe Bank | 7%–9.5% | 85% | 640 | 25–40 days | FDIC-insured bank, Apply direct (no broker) | 4.0 |
| Carrington Mortgage Services | 7.25%–10% | 85% | 600 | 25–45 days | Lower credit scores, Apply direct or via broker | 4.0 |
| Deephaven Mortgage | 7%–9.75% | 90% | 620 | 25–40 days | Non-QM pioneer, Via broker only | 4.0 |
| Acra Lending | 7.25%–10% | 90% | 600 | 25–45 days | Established non-QM lender, Via broker only | 4.0 |
| A&D Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | Full non-QM menu, Via broker only | 4.0 |
| Newrez | 7%–9.75% | 90% | 620 | 25–40 days | Apply direct or via broker, Smart Series non-QM | 3.5 |
| LoanStream Mortgage | 7.25%–9.99% | 90% | 620 | 25–45 days | NanQ non-QM line, Via broker only | 3.5 |
| Champions Funding | 7.25%–10% | 90% | 600 | 25–45 days | CDFI lender, Via broker only | 3.5 |
Griffin Funding
4.5Griffin Funding is a consumer-direct lender that has built much of its brand around non-QM lending for the self-employed. Borrowers can apply directly online — no broker required — across bank statement, asset-based, 1099, and P&L programs in addition to conventional and VA loans.
7.25%–9.75%
90%
620
21–35 days
$100K–$5M
No experience required
Angel Oak Mortgage Solutions
4.5Angel Oak Mortgage Solutions is one of the largest and most established non-QM lenders in the country, with the broadest self-employed menu in the market. Important for consumers: Angel Oak Mortgage Solutions is a wholesale lender — you cannot apply directly and must work through a mortgage broker.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
New American Funding
4.0New American Funding (NAF) is one of the largest privately held mortgage lenders in the country, offering a full retail menu that includes non-QM options for self-employed borrowers alongside conventional, FHA, VA, and jumbo loans. Borrowers apply directly through NAF.
7%–9.5%
90%
620
21–40 days
$100K–$5M
No experience required
Northpointe Bank
4.0Northpointe Bank is an FDIC-insured chartered bank that portfolios select non-QM products, letting self-employed borrowers apply directly for bank statement, asset-depletion, and P&L programs. As a depository institution, it underwrites and holds some of these loans itself.
7%–9.5%
85%
640
25–40 days
$100K–$3M
No experience required
Carrington Mortgage Services
4.0Carrington Mortgage Services is a vertically integrated lender and servicer with a deep non-prime and non-QM focus. Its "Flexible Advantage" series targets self-employed and credit-challenged borrowers, and consumers can apply directly through Carrington's retail channel.
7.25%–10%
85%
600
25–45 days
$100K–$4M
No experience required
Deephaven Mortgage
4.0Deephaven Mortgage is a pure non-QM lender (owned by Pretium) that has focused exclusively on alternative-documentation loans since 2012. For consumers, the key point is that Deephaven is wholesale and correspondent only — you reach its programs through a mortgage broker, not directly.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
Acra Lending
4.0Acra Lending (formerly Citadel Servicing) is one of the oldest and largest dedicated non-QM lenders and an active securitizer. It is a wholesale lender — consumers reach its bank statement, 1099, P&L, ITIN, and other programs through a mortgage broker rather than applying directly.
7.25%–10%
90%
600
25–45 days
$100K–$4M
No experience required
A&D Mortgage
4.0A&D Mortgage is a Florida-rooted, nationwide non-QM specialist serving thousands of broker partners and an active issuer of non-QM securitizations. It is a wholesale and correspondent lender — borrowers reach its full self-employed menu through a mortgage broker.
7.25%–9.99%
90%
620
25–45 days
$100K–$5M
No experience required
Newrez
3.5Newrez is a large national lender and servicer (part of Rithm Capital) offering its "Smart Series" of non-QM products. It operates both retail and wholesale channels — consumers can apply directly, though the broadest non-QM guidelines often live on the broker side.
7%–9.75%
90%
620
25–40 days
$100K–$4M
No experience required
LoanStream Mortgage
3.5LoanStream Mortgage offers a well-known non-QM line branded "NanQ," covering bank statement, 1099, P&L, asset, and ITIN programs. The NanQ line is a wholesale staple — consumers reach it through a mortgage broker rather than applying directly.
7.25%–9.99%
90%
620
25–45 days
$100K–$4M
No experience required
Champions Funding
3.5Champions Funding is a 100% non-QM lender and a Treasury-designated Community Development Financial Institution (CDFI), a status that supports more flexible, exception-based underwriting for underserved borrowers. It is a wholesale lender — consumers apply through a mortgage broker.
7.25%–10%
90%
600
25–45 days
$100K–$5M
No experience required
Frequently Asked Questions About Profit and Loss (P&L) Only Loans
Who can prepare the P&L statement?
Most lenders require the profit-and-loss statement to be prepared and signed by a third-party professional — a CPA, enrolled agent (EA), or licensed tax preparer. A borrower-prepared P&L is generally not accepted, because the third-party attestation is what gives the document credibility.
Do I still need to provide bank statements?
It depends on the program. Some P&L-only loans require none, qualifying purely on the statement. Others ask for two or three months of bank statements to support the P&L. The fewer documents required, the more the lender relies on credit, reserves, and a larger down payment.
How is qualifying income determined from a P&L?
The lender generally uses the net profit shown on the year-to-date and, often, prior-year profit-and-loss statements, multiplied by your ownership percentage. That net figure becomes your monthly qualifying income for the debt-to-income calculation.
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