First Page of Bank Statement Program

The 1st Page Bank Statement with P&L program is designed to provide alternative financing for self-employed individuals. With this program, you can easily demonstrate your company’s financial stability and eligibility for a loan by using the first page of your business bank statement, which reflects the company’s profit and loss (P&L) statement.

• One of the key features of this program is that it allows you to qualify for a mortgage based solely on your P&L statement. This means that no additional documentation or financial records are required, making mortgage financing feasible for self-employed individuals. Whether you have a 12-month or 24-month P&L statement, both are acceptable for qualification.

• The 1st Page Bank Statement with P&L program offers competitive loan-to-value (LTV) ratios. For purchase transactions, you can qualify for LTVs of up to 90%, allowing you to finance a significant portion of the property’s value. If you’re looking to cash out on your property, you can still benefit from this program with cash-out LTVs of up to 80%.

• Loan amounts of up to $4 million are available under this program, providing flexibility for businesses of various sizes. Additionally, the debt-to-income (DTI) ratio can go up to 50%, allowing for a wider range of income and expenses to be considered in the qualification process.

• To be eligible for the 1st Page Bank Statement with P&L program, a minimum of 50% business ownership is required. This ensures that the program is tailored to meet the needs of business owners who rely on their company’s financial performance for mortgage qualification.

Whether you’re looking to purchase a primary residence, a second home, or an investment property, the 1st Page Bank Statement with P&L program can accommodate your needs. This program offers flexibility and convenience, making it an attractive option for business owners seeking a mortgage.

Please note that the specific terms and conditions of the program may vary depending on the lender and your individual circumstances. It’s always recommended to consult with one of our mortgage professionals to fully understand the details and requirements of the 1st Page Bank Statement with P&L mortgage program.