We’re excited to highlight a recent Michigan success that demonstrates the power of this program.
Recently Funded: $2.9 Million P&L-Only Refinance in Troy
We successfully closed a $2.9 million refinance using our 1-Year Profit & Loss Only (P&L) program, allowing a self-employed borrower to qualify solely on their business performance.
Loan Details:
- Location: Troy, Michigan
- Loan Program: 1-Year P&L Only
- Loan Amount: $2,900,000
- Transaction Type: Refinance
- Property Type: Primary Residence
- LTV: 64%
- Credit Score: 798
- Loan Term: 30-Year Fixed Interest-Only
No Bank Statements. No Tax Returns. Just a P&L.
This Michigan borrower, like many self-employed professionals across the state, had strong cash flow but did not qualify under traditional agency guidelines because income was reported on tax returns.
Using our P&L-only Non-QM solution, we were able to:
- Qualify income using a 12-month Profit & Loss statement
- Eliminate the need for bank statements
- Bypass traditional tax return limitations
- Structure a high-balance refinance with competitive terms
This $2.9M P&L-only refinance in Troy, Michigan, is just one example of what’s possible when you move beyond conventional guidelines.
