CPA-Prepared Financials • Austin & Texas

P&L Only Mortgages in Texas

Qualify on Your Certified Profit & Loss. No Tax Returns Required.

When reviewing dozens of monthly bank statements is overly cumbersome and tax returns understate real operational profitability, a CPA-Prepared Profit & Loss (P&L) mortgage offers the cleanest alternative. Adam Styer connects Texas business owners with wholesale lenders that underwrite your loan directly from a verified 12 or 24-month P&L statement.

See My Options Book a 15-Min Call (512) 956-6010

By Adam Styer, Senior Loan Officer • NMLS #513013 • Company NMLS #2072896

Income Source
CPA / EA Signed P&L
Prepared by your licensed tax professional
Tax Returns
0 Tax Returns
No Schedule C, 1120S, or 1065 returns audited
Max Loan Size
To $3M–$4M
Primary residences, second homes, and rentals
Down Payment
From 15% to 20% Down
Flexible credit down to 640 FICO
What should I know about this option?

How Does a P&L-Only Mortgage Work?

A P&L-only mortgage qualifies self-employed business owners based on a 12-month or 24-month Profit and Loss statement prepared and signed by an independent licensed professional (Certified Public Accountant, Enrolled Agent, or CTEC tax preparer).

Unlike bank statement loans that require collecting and analyzing 12 to 24 months of heavy banking statements, P&L programs focus on the net operating income demonstrated on your financial statement. A light bank validation (typically 2 months of statements confirming that operating deposits flow through the business account) confirms continuity without auditing every transaction.

Common Situations

Who This Program Is Built For

Clear borrower profiles where this specialized documentation path provides approval certainty without tax penalties.

Business Owners with High Transaction Volume

E-commerce founders, medical practices, and retailers with thousands of micro-transactions where bank statement reviews are difficult.

Companies with Rising Recent Margins

Businesses that experienced significant profit margin expansion in the current operating year not yet captured on historical tax returns.

Multi-Partner Businesses

Partners holding 25%+ equity who prefer not to submit full multi-member partnership tax returns to a mortgage underwriter.

Borrowers Working Closely with CPAs

Entrepreneurs who maintain clean, audited monthly financial records with their accounting firm.

Options & Milestones

Simple Options & 3-Step Process

Predictable underwriting milestones backed by wholesale lender access.

12-Month CPA-Prepared P&L

Evaluates your most recent 12 months of operating revenue and expenses. Ideal when recent profit margins significantly outperform prior tax years.

Best for: Businesses with strong recent revenue

24-Month CPA-Prepared P&L

Averages two full annual P&L periods for multi-year stability, qualifying you for the lowest interest rates and highest leverage.

Best for: Established operating companies

P&L + 2-Month Bank Verification

Standard documentation format requiring the signed P&L accompanied by just two recent bank statements showing active business deposits.

Best for: Streamlined documentation path
01

P&L Review & Attestation

Your CPA or tax preparer provides your trailing 12 or 24-month P&L on accounting firm letterhead without boilerplate disclaimer language.

02

Wholesale Lender Match

Adam matches your industry and net profit margin with wholesale lenders offering the most flexible P&L underwriting guidelines.

03

Conditions Up Front

Clean financial documentation lets the underwriter see the file. My team and I send the conditions list up front.

Illustrative Scenario

In Action: A Clear Scenario

Real numbers showing how alternative documentation qualifies real Texas business owners.

Illustrative Case • Medical Practice Austin (Westlake Hills), Texas

Westlake Practice Owner — $1.5M Purchase via CPA-Prepared P&L

The Situation: An Austin specialized medical practice owner wanted to purchase a $1,500,000 residence in Westlake Hills with 20% down ($300,000). Their practice had hundreds of small patient and insurance deposits each week.

The Dilemma: A bank statement underwriter requested 12 months of statements totaling over 400 pages of bank records and flagged thousands of insurance reimbursements. Tax returns showed heavy accelerated equipment write-offs for specialized laser and surgical equipment.

The Wholesale P&L Solution: Adam switched the file to a 12-Month P&L program. The borrower's CPA prepared an audited 12-month P&L showing $480,000 in net profit, supported by just 2 months of business bank statements confirming active deposit activity. Underwriters approved the file in 48 hours, closing the $1,200,000 loan in 17 days.

Disclosure: Illustrative scenario based on composite borrower profile. Actual interest rates, loan limits, and qualification guidelines depend on credit profile, property appraisal, and lender criteria.

Supporting Research & Worksheets

Explore the Details

In-depth underwriting guidelines, loan matrices, and interactive tools in our specialist resources.

Bank Statement Loans Texas Guide Compare Bank Statements →

Compare P&L loans with 12 or 24-month bank statement qualification options.

Self-Employed Mortgage Austin Overview Explore All Programs →

Comprehensive roadmap of all self-employed mortgage paths in Central Texas.

K-1 / Partnership Income Mortgage Guide Explore K-1 Rules →

How partnership and S-corp owners qualify using Schedule K-1 and distributions.

Mortgage Payment Calculator Calculate Payment →

Model monthly payments across conforming, jumbo, and alternative documentation options.

What a P&L Only Program Actually Requires →

Clear Answers

Frequently Asked Questions

Straightforward answers to the questions self-employed borrowers ask most.

Who can prepare and sign the P&L statement?

The Profit & Loss statement must be prepared and signed by an independent third-party Certified Public Accountant (CPA), an IRS Enrolled Agent (EA), or a licensed CTEC preparer who has verified your books for at least two years.

Do underwriters require bank statements with a P&L loan?

Most P&L programs require only 2 months of business bank statements simply to verify that revenue is actively flowing into the business account. They do not calculate income from the statements or audit every deposit.

Can the CPA letter include a disclaimer?

No. The CPA letter must attest to the preparation of the financials without liability disclaimers such as 'prepared without audit' or 'to the best of my knowledge.' We provide your CPA with pre-qualified template language.

What credit score is required for a P&L mortgage?

Minimum credit scores typically start at 640 to 660. Credit scores of 720+ qualify for the highest loan-to-value (up to 80%–85% LTV) and best wholesale interest rates.

What loan amounts are available under P&L programs?

P&L loans are available from conforming loan amounts up to $3M–$4M+, making them ideal for Austin luxury homes and move-up properties.

The Wholesale Advantage • Many wholesale lenders • Wholesale Pricing Without Corporate Bank Margins • Clear communication and the conditions list up front • Direct 1-on-1 Strategy from Adam Styer

Fast Scenario Review

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