Profit & Loss
The Profit & Loss mortgage option allows borrowers to use a Profit and Loss statement to show income, ideal for business owners and self-employed individuals without traditional income documentation.
Profit & Loss Mortgage Option
This mortgage option is designed for business owners and self-employed individuals who may not have traditional income documentation. Instead of relying on W-2s or pay stubs, you can use a Profit and Loss (P&L) statement to show your income. Grace Modern Mortgage will assess your P&L statements, typically prepared by a certified accountant, to evaluate your business's profitability and cash flow. This approach allows you to qualify for a mortgage based on your business performance rather than your personal income documentation.