1Y + 2Y P&L ONLY
Self-employed individuals have a more difficult time qualifying for a traditional mortgage. At A&D Mortgage, we offer our Non-QM 1-year and 2-year P&L Only loans to help them.
Borrowers can qualify for an A&D loan based on the strength of their business’s Profit & Loss (P&L) statement only. No bank statements are required.
Program highlights:
- No Score or FICO 660
- Up to 85% CLTV on 2Y and up to 80% CLTV on 1Y
- Max DTI 55%
- Loan amounts up to $3 million
- Max cash-on-hand $1 million, no limit CLTV < 55%
- P&L by Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer
- No bank statement required
- Super Prime & Prime programs
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Other Programs
Bridge Loan Program
• FICO 580
• Up to 70% CLTV
• Interest Only
• No Income on 1003
• Foreign National allowed
• No prepayment penalty
• Fast closing
• No asset seasoning
• Eligible for Non-Permanent Residents
Foreign Nationals
• No score or FICO 660
• Up to 70% CLTV
• Loan amounts up to $2 million
• Cash-out allowed
• DSCR as low as 0
• DSCR available under FN DSCR Program
• CPA Letter for last 2 years & year-to-date
• One bank reference letter
• Overseas assets allowed as reserves
• Gift funds allowed
Full Doc Non-QM
• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-hand $1 million, no limit for CLTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 & 7/6 ARM
• Traditional income
• 2-year credit event allowed
• Super Prime & Prime programs
• Condos up to 85% CLTV
• Condotels up to 70% CLTV
• NY up to 85% CLTV
12/24 Months Bank Statements
• No Score or FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-hand $1 million, no limit for CLTV < 55%
• 30 & 40 Year Fixed
• 3 months reserves
• Gift Funds for reserves allowed
• 12 months from bankruptcy or foreclosure
• Mortgage history 0 x 60 x 12
• Combination of business and personal bank statements allowed
• Condo and condotels allowed