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Loan Programs
Non-QM – Profit & Loss
A profit & loss mortgage loan, also known as a self-employed mortgage or alternative documentation loan, is a type of mortgage designed for borrowers who are self-employed or have non-traditional sources of income and may not have the typical documentation (such as Tax Return forms) required for conventional loans. However, borrowers should be prepared to provide extensive documentation of their income and finances, and interest rates and terms may be less favorable compared to conventional loans.

Down Payment
P&L mortgage loans may require a down payment, although the specific amount can vary depending on factors such as the borrower's credit profile and the lender's requirements. The minimum down payment required is 10% - in the state of Florida we can go down to 3.5% down payment.
Income Verification
Lenders would analyze the borrower's profit and loss statements to assess their income and financial stability. These statements typically detail the revenue, expenses, and net profit or loss generated by the borrower's business over a specified period, in most cases the past 12 to 24 months.
Credit Score
While credit requirements can vary among lenders, borrowers typically need to have a good credit score to qualify for a P&L mortgage loan. The minimum credit score required is 620.
Mortgage Insurance
P&L Loans do not have mortgage insurance regardless of the amount of down payment.
Loan Limits
Loan limits are set by the specific lender.
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*No-income verification loan rates are substantially higher than currently available mortgage rates.

NMLS #2051275
• www.nmlsconsumeraccess.org

• Licensed by:
o District of Columbia Department of Insurance, Securities & Banking #MLB 2051275
o Florida Office of Financial Regulation #MBR4894
o Maryland Office of Financial Regulation #2051275
o Virginia Bureau of Financial Institutions #MC-7155
• 4Ever Lending USA LLC arranges loans with third-party providers, does not make any mortgage loan commitments or fund any mortgage loans.
• For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval.

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