A P&L loan qualifies you using a CPA-prepared profit and loss statement instead of tax returns, built for business owners whose books tell a clearer story than their filed taxes.
Mountain Country Mortgage compares P&L lenders on your behalf, so business owners qualify on real, professionally documented income.
A P&L loan is a Non-QM mortgage that uses a profit and loss statement, prepared by a licensed CPA or accountant, as your primary income documentation. The lender uses the net income figure from that statement to calculate what you qualify for.
This is a strong option if you already work with a CPA and your business records paint a fuller picture than your tax return. If you would rather qualify off actual bank deposits instead, take a look at our Bank Statement Loan program.
Mountain Country Mortgage is a broker, not a lender. We compare P&L programs across our lender network and connect you with someone who knows how to read a business’s real performance.
Northern Arizona is full of small business owners who already keep organized books with a CPA. For a lot of them, that P&L is a far more accurate financial picture than two years of tax returns.
Buyers with growing businesses and real deductions often look weaker on paper than they are in practice. A P&L loan lets a professional-prepared statement carry the weight instead.
An LLC owner in Kingman had run a landscaping business for three years, working with the same CPA the entire time. A current profit and loss statement gave a lender a clear enough picture to qualify them without a single tax return.
| Requirement | Typical Range |
|---|---|
| Documentation | A 12 or 24-month P&L prepared by a licensed CPA or accountant. |
| Business Type | Sole proprietor, LLC, S-corp, or partnership. |
| Self-Employment History | Typically 1 to 2 years in the same business. |
| Minimum Credit Score | Usually 620 or higher. |
| Down Payment | Typically 10% to 20%, depending on loan amount and credit. |
| Property Types | Primary residence, second home, or investment property. |
Most lenders look for 620 or higher, though a stronger score earns a better rate.
We review your CPA-prepared P&L to calculate your qualifying income.
Shop with a real budget in hand, based on your business's documented performance.
We manage the file as the lender reviews your credit, reserves, and down payment.
Once underwriting clears, you sign, fund, and get your keys.
A couple of quick stops before you go further, so you walk into your first conversation with a loan officer already prepared.
A plain-English walkthrough of the whole process, from checking your credit to closing day.
See every loan program Mountain Country Mortgage offers, from first-time buyer options to investor financing.
Yes, most lenders require it to be prepared and signed by a licensed CPA or accountant.
A self-prepared P&L is usually not accepted. If you do not currently work with an accountant, this is a good reason to start.
Most lenders want the current year or the most recent 12 to 24-month period.
The more current the statement, the better. Some lenders require it to be dated within 60 days of your application.
A single period of loss will not automatically disqualify you, but it will be reviewed carefully.
Lenders look for consistent profitability and an upward trend. Your loan officer can help you understand how your specific P&L will be evaluated.
P&L uses a CPA-prepared financial statement. Bank Statement looks at actual deposits.
Both serve self-employed borrowers, but the documentation is different. In some cases, a lender may accept either one, or ask for both.
Yes, including cash-out refinance in many cases.
Refinance eligibility varies by lender, so confirm the current details with your loan officer before you apply.
It helps, but it is not a strict requirement.
Consistency makes it easier for a lender to trust the numbers, but a new CPA relationship can still work as long as the statement meets the lender’s standards.
No, your CPA does not need to be licensed in Arizona.
Lenders care that the P&L is prepared by a licensed CPA or accountant in good standing, regardless of which state issued their license. Your loan officer can confirm what a specific lender requires.