P&L · SELF-EMPLOYED · TEXAS
P&L Statement Loans in Texas
Profit and loss (P&L) statement loans help Texas business owners qualify using a CPA- or tax-preparer-prepared P&L—useful when tax returns show heavy write-offs but the business is healthy.
Many entrepreneurs run profitable companies while reporting modest taxable income. Conventional underwriting that leans only on tax returns can miss that cash flow. P&L statement programs available through Expo Lending may use a recent profit and loss statement—often paired with business bank statements or other supporting docs—to calculate qualifying income. Guidelines vary, subject to underwriting.
Aiden Fahimi, Broker | Mortgage Advisor (NMLS #1943973) · Expo Lending LLC · NMLS #2619446
Who P&L Loans Are For
- LLC, S-corp, C-corp, or partnership owners with a current P&L prepared by a CPA or licensed tax preparer
- Self-employed Texans whose Schedule C or K-1 income understates true cash flow
- Borrowers buying or refinancing a primary home, second home, or—when allowed—an investment property in Texas
- Business owners who prefer a P&L-based calculation over a pure bank-statement expense-factor approach
- Clients who may also compare bank statement or 1099 programs for the same deal
Expo Lending is Texas-based with statewide coverage. Browse hundreds of successful closings on Success Stories.
How P&L Underwriting Works
Underwriters review a P&L that reflects your business’s recent revenue and expenses, then derive a monthly income figure consistent with program rules. Many programs ask for a P&L covering the year-to-date period and/or the most recent full year, signed by a CPA or licensed tax preparer. Business bank statements may be used to corroborate revenue.
P&L vs. bank statement loans
Bank statement loans emphasize deposit history. P&L loans emphasize an accountant-prepared snapshot of profitability. Some files work better on one path; others can be structured either way. We compare both—plus 1099 and asset depletion options—before you apply.
Typical process
- Call — Business type, ownership percentage, and goals (purchase vs. refinance).
- P&L review — We estimate qualifying income and flag gaps before formal underwriting.
- Pre-approval — Terms you can share with your Texas Realtor.
- Full underwriting — Appraisal, title, and final conditions through closing.
Common Requirements
- Self-employment or business ownership for a period that meets program seasoning (often multiple years in the same line of work)
- A P&L prepared and signed by a CPA or licensed tax preparer as the program requires
- Credit, down payment/equity, and reserves within the selected program’s guidelines
- Supporting business documentation (EIN letter, formation docs, license) when requested
- Clear explanation of ownership percentage and how you are paid
Exact credit scores, LTVs, and ratios are not listed here—guidelines vary by program and are subject to underwriting. Your quote is deal-specific.
Documents You’ll Likely Need
- CPA- or tax-preparer-prepared P&L (period required by the program)
- Business and/or personal bank statements when the program asks for corroboration
- Government ID and Social Security number
- Business formation documents and proof of ownership
- Purchase contract or mortgage statement; asset statements for funds to close and reserves
Why Texas Business Owners Choose This Path
- Income closer to reality — Qualify on profitability your accountant already tracks.
- Flexible use cases — Purchase or refinance when the selected program allows.
- Broker comparison — Expo shops multiple non-QM menus rather than one lender’s checklist.
- Statewide service — Same advisor relationship from Houston HQ across Texas.
P&L Statement Loan FAQs
Does the P&L have to be prepared by a CPA?
Many P&L programs require a CPA or licensed tax preparer signature. Some accept other licensed preparers. Expo Lending confirms the exact requirement for the program you choose before you order a new statement.
Do I still need tax returns?
Some P&L programs minimize reliance on tax returns for income calculation; others still request returns or transcripts for verification or compliance. We tell you the checklist up front.
Can I combine a P&L with bank statements?
Often yes—many files use a P&L plus business bank statements to support revenue. We will outline what strengthens your specific scenario.
Is a P&L loan available statewide in Texas?
Yes. Expo Lending is Texas-based and offers P&L statement loan options to qualifying borrowers across Texas, not only in Houston.
How is this different from a bank statement loan?
Bank statement loans focus on deposits. P&L loans focus on an accountant-prepared profit and loss statement. The better fit depends on how your business books income and expenses.
Can investors use P&L loans?
Some programs allow investment occupancy with P&L documentation. Many investors also evaluate DSCR loans (available in all 50 states) when the property’s rent is the main qualifier.
Mon–Fri 9 AM–6 PM Central · Text your P&L summary anytime
Equal Housing Opportunity. Expo Lending LLC, NMLS #2619446. Aiden Fahimi, Broker | Mortgage Advisor, NMLS #1943973. 1000 Main St, Suite 2300 PMB 1161, Houston, TX 77002. Office (877) 732-4464 · Direct/Text (713) 885-3944. Programs, guidelines, and availability vary and are subject to underwriting approval. This is not a commitment to lend. NMLS Consumer Access: nmlsconsumeraccess.org.
