Programs
1Y + 2Y P&L

1Y + 2Y P&L

Min. FICO 660
Up to 80% CLTV

Program Overview:

Legions Capital offers an efficient alternative for established self-employed borrowers by qualifying income based on a professionally prepared Profit & Loss statement. This bypasses extensive bank statement analysis or complex tax schedules, providing a rapid assessment of current performance.

Broker Advantage:

  • Streamlined Underwriting: Uses a single, professionally prepared document to verify income.
  • Business Liquidity: High-leverage options up to 80% LTV allow borrowers to keep capital in their business.
  • Reduced Friction: No tax returns, no bank statement analysis, and no 4506-C required.
  • The One-Sheet Approval: A CPA-signed P&L is the primary income document needed to clear conditions.

Highlights:

  • FICO: Minimum 660 FICO required.
  • LTV (Purchase): Up to 80%.
  • LTV (Cash-Out): Up to 75%.
  • Ratios: Maximum 50% DTI based on P&L net income multiplied by ownership.
  • Loan Amounts: Max $3,000,000.
  • Operation History: Business must have been in operation for at least 12 months.
  • Documentation: CPA, CTEC, or EA signed P&L covering the most recent 12 or 24 months.

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DSCR FAQ

Who qualifies for a P&L loan?

Self-employed borrowers using CPA, CTEC, or IRS Enrolled Agent prepared P&Ls.

Are bank statements required?

Not required up to 70% LTV.

Is a CPA letter required?

Yes. The P&L must be prepared or reviewed by an approved third party.

How many years of P&L are required?

One or two years depending on the scenario.

What loan amounts are available?

Loan amounts up to $2.5 million.

Exlpore more 1Y + 2Y P&L Loan Programs

Asset Utilization

Min. FICO 620
Up to 80% CLTV
  • Bank statements not required up to 70% LTV
  • Minimum 3 months of reserves
  • Loan amounts up to $3 million

WVOE

Min. FICO 620
Up to 80% CLTV
  • Bank statements not required up to 70% LTV
  • Minimum 3 months of reserves
  • No tax returns required

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Contact Us
Weekdays 8 am to 9 pm EST
(833) 553-0505
21800 Burbank Blvd Suite
#100, Woodland Hills, CA 91367
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Legions Capital, Inc. is an Equal Housing Lender. NMLS ID #1553947. 21800 Burbank Boulevard, Suite 100, Woodland Hills, CA 91367. 833-553-0505. State Licensing: Legions Capital, Inc. is licensed by: AZ #BK-2008712 “Arizona Mortgage Banker License”; CA #60DBO-64540 “Licensed by the Department of Financial Protection and Innovation under the California Financing Law”; CO “Mortgage Company Registration”; CT #ML-1553947 “Mortgage Lender License”; FL #MLD2349 "Mortgage Lender Servicer License"; GA #1553947 “Mortgage Lender License/Registration”; MI #FL0026913 “1st Mortgage Broker/Lender Registrar”; OR #1553947 “Mortgage Lending License”; PA #116958 "Mortgage Lender License"; SC-BFI #MLS-1553947 “Mortgage Lender/Servicer License”; TN #1553947 ”Mortgage License”; TX-SML “Mortgage Banker Registration”; WA #CL-1553947 “Washington Consumer Loan Company License”; WI #1553947BR “Mortgage Banker License”. Verify our licenses at: www.nmlsconsumeraccess.org. Texas Consumers: Click here to view the Texas Consumer Complaint & Recovery Fund Notice. Availability: Loan approval and rates are dependent upon applicant’s credit, collateral, financial history, and program availability at time of origination. Programs and rates are subject to change without notice and may or may not be available at the time of loan commitment or lock-in.
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