Are you self-employed and looking for a mortgage solution that works for you? Traditional income verification methods can be challenging for entrepreneurs and small business owners. That\u2019s why A Plus Mortgage Florida offers tailored Bank Statement & P&L Loans designed to make homeownership accessible for self-employed borrowers and those with unconventional income streams.
What Are Bank Statement & P&L Loans?
Bank Statement & P&L Loans allow borrowers to qualify for a mortgage based on their bank deposits or Profit and Loss statements rather than traditional W-2s or tax returns. This program is ideal for individuals whose income fluctuates or cannot be fully documented through conventional methods.
Key Benefits:
- No Tax Returns Required: Simplify the process by using bank statements or P&L statements instead of tax documentation.
- Flexible Income Verification: Use 12 or 24 months of personal or business bank statements to verify income.
- Tailored for Self-Employed Borrowers: Perfect for entrepreneurs, freelancers, and business owners.
- Competitive Loan Terms: Access great rates and loan amounts up to $3 million.
- Variety of Property Types: Financing options available for primary residences, second homes, and investment properties.
Eligibility Requirements:
- Self-Employment: Minimum two years of self-employment history.
- Bank Statements: Must provide 12 or 24 months of consecutive bank statements.
- Credit Score: Minimum credit score requirements apply; generally, 620 or higher.
- Reserves: Proof of sufficient cash reserves may be required.
- Debt-to-Income Ratio (DTI): Flexible DTI limits compared to traditional loans.
How It Works:
- Submit Your Application: Start by completing our online application or contacting us directly.
- Provide Financial Documentation: Share your bank statements or Profit and Loss statement prepared by your accountant.
- Pre-Approval: Get pre-approved based on your verified income.
- Loan Processing: Our team will guide you through the underwriting process to ensure a smooth experience.
- Close Your Loan: Secure your dream home or investment property quickly and efficiently.
Who Can Benefit?
- Self-employed professionals
- Freelancers and gig workers
- Business owners
- Real estate investors
At A Plus Mortgage Florida, we understand that every borrower\u2019s financial situation is unique. Our Bank Statement & P&L Loan programs are designed to provide flexibility, simplicity, and transparency for self-employed individuals.
Ready to learn more? Contact us today to discuss your options or apply online to get started on the path to homeownership!