Profit & loss qualification for self-employed.
Up to 80% LTV on purchase using a single year P&L prepared by a licensed tax professional. Minimum 700 FICO. The fastest non-QM doc path for a recent-history self-employed borrower.
What we do — and what we don't. Local Loan Store™ specializes in commercial, investor, and non-owner-occupied lending plus secured & unsecured business working capital. We do not originate personal loans or owner-occupied residential mortgages. If your scenario is personal or owner-occupied, we'll happily refer you to a trusted partner who is ready to help — just submit your inquiry and we'll route it to the right desk.
Have your CPA/EA prepare a year-to-date or trailing-12 P&L
We pull FICO and verify the preparer's license
Order appraisal and title in parallel
Close in 21–30 days
Worked examples using the program's actual LTV and qualifying rules. Numbers are illustrative — your file determines your final terms.
Self-employed, FICO 720, no full year of tax returns yet
80% LTV approval on a CPA-prepared 12-month P&L.
% of value financed at purchase — click a bar to open the program
USD millions — click a bar to open the program
Lower band = best-case pricing. Hover for details, click to open the program.
Bank-statement programs need 12–24 months of deposits — a CPA-prepared P&L can be faster and cleaner if your business is too new for that.
The preparer must have a current PTIN (Preparer Tax Identification Number); we verify it as part of underwriting.
This is the preferred path for borrowers who have just incorporated or just left a W-2 to go full-time self-employed.
Quick answers about 1 Year P&L Product. Not seeing your question? Talk to a loan officer below.
Submit your scenario — a loan officer will confirm program fit and indicative pricing within one business day.
