Government
FHA Profit & Loss Only
Unlock your homeownership dreams with CMRE's FHA Profit & Loss Only loan program. Specifically designed for self-employed borrowers, this government-backed loan offers a streamlined path to purchasing a home, even without traditional income verification. Take advantage of competitive rates, starting at 6.25%, and flexible qualification criteria.
Program Benefits
Simplified qualification process for self-employed individuals using Profit & Loss statements.
Backed by the Federal Housing Administration (FHA), providing added security and stability.
Competitive interest rates, starting at 6.25%, making homeownership more accessible.
Lower down payment options compared to conventional loans.
Ideal for borrowers with non-traditional income sources.
Helps you achieve homeownership with a minimum FICO score of 580.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
55%
Loan Amount Range
$100K - $2M
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Condo
Program Requirements
Income Documentation
- •Two years of Profit & Loss statements required.
- •Business license or documentation of self-employment.
- •Verification of business existence and operations.
- •Stable or increasing business revenue trend preferred.
Asset Verification
- •Sufficient funds for down payment and closing costs.
- •Bank statements to verify asset availability.
- •Documentation of any large deposits.
- •Reserves typically equivalent to 1-3 months of mortgage payments.
Insurance & Title
- •Homeowners insurance policy required.
- •Flood insurance may be required depending on the property's location.
- •FHA Mortgage Insurance Premium (MIP) is mandatory.
Property Requirements
- •Minimum FICO score of 580 required.
- •Review of credit history for any significant delinquencies or derogatory marks.
- •Demonstrated responsible credit behavior.
- •May require explanation for past credit issues.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
It's a mortgage program backed by the Federal Housing Administration (FHA) that allows self-employed borrowers to qualify using their business's Profit & Loss statements instead of traditional income verification methods.
The benefits include simplified qualification for self-employed individuals, lower down payment options, and competitive interest rates, making homeownership more accessible.
A minimum FICO score of 580 is required.
The loan range typically falls between $100,000 and $2,000,000, depending on your financial situation and property value.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
