Many Florida business owners file returns built to reduce taxes, which can leave a mortgage underwriter with a low income figure. If you already work with a CPA, EA or licensed tax preparer, a P&L loan may let you qualify from a preparer-backed profit-and-loss statement instead, usually with a short set of bank statements as a check. Lenders still verify ability to repay, and programs vary by borrower, property and investor. Your preparer is usually the first call.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Lenders often confirm that your business is active. In Florida, business entity records are searchable through the Florida Department of State, Division of Corporations. If a CPA prepares your expense letter or P&L, the lender may check the license with the Florida Board of Accountancy / Division of Certified Public Accounting.
Where the numbers point in Florida
Counties with the most self-employed workers:
| County | Self-employed workers |
|---|---|
| Miami-Dade County | 224,931 |
| Broward County | 144,274 |
| Palm Beach County | 112,477 |
| Orange County | 83,696 |
| Hillsborough County | 79,924 |
| Pinellas County | 60,315 |
| Lee County | 49,446 |
| Duval County | 47,180 |
| Volusia County | 32,774 |
| Sarasota County | 31,793 |
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Florida
- Bank statement loans in Miami
- Bank statement loans in Tampa
- Bank statement loans in Orlando
- Bank statement loans in Jacksonville
- Bank statement loans in Sarasota
- Bank statement loans in Cape Coral
- Bank statement loans in Palm Bay
- Bank statement loans in Port St. Lucie
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- Bank statement loans in Miramar
- Bank statement loans in Panama City
- Bank statement loans in Coral Springs
- Bank statement loans in Lehigh Acres
- Bank statement loans in Clearwater
Common questions
Can I write my own P&L for a mortgage?
Some programs accept a borrower-prepared P&L, but usually only with additional bank statements or other support. Many require a CPA, EA or licensed tax preparer to prepare, review or sign the statement. Lenders often verify the preparer's credentials as well. Ask the loan officer which version is acceptable before you start so you do not have to redo the work.
What is a P&L loan?
A P&L loan is a non-QM mortgage that qualifies a business owner from a profit-and-loss statement rather than tax returns. The statement is usually prepared or verified by a CPA, EA or licensed tax preparer, and lenders often ask for a few months of business bank statements to confirm the revenue. Lenders still assess your ability to repay, and all loans are subject to credit approval.
Can I refinance with a P&L loan?
Many P&L programs allow rate-and-term refinances and some allow cash-out refinances, often with tighter limits on the cash-out side. The same documentation applies: a preparer-backed P&L, supporting statements and a value estimate on the property. Programs vary by borrower, property and investor, so ask how the lender treats refinances before you order a new P&L.
Other non-QM options in Florida
Bank statement loansNon-QM lendersSelf-employed1099 loansAsset depletionNo-doc / stated incomeNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only
Related guides
- P&L Statement Mortgages: How P&L-Only Home Loans Work
- CPA Letters for Mortgages: What They Are For and What They Can Say
- Self-Employed Mortgage Requirements: The Full-Documentation Route
P&L Loans overview · Florida non-QM overview
- Census ACS 2020-2024, table B24080