FHA Profit & Loss Loans

Only 3.5% Down Payment Required

Instead of using income documents, we will accept a Profit & Loss Statement from your Accountant.

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Need a FHA Profit & Loss Loan?

Do you need to buy a home or refinance but can’t because you can’t prove your income?

Equinox Home Financing offers a FHA Profit & Loss loan. This loan program is perfect for someone who is self-employed. Typically this borrower has a lot of tax deductions and therefore on paper, the net income on their tax returns is too low to qualify for a conventional loan program. We can get you qualified by using profit and loss statements prepared by a certified public accountant (CPA). This gives us an overview of the past 1 or 2 years of income rather than looking at monthly bank statements. This loan program is suited for self-employed borrowers whose income is seasonal or fluctuates throughout the year.

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How It Works

Apply Online

Our licensed loan officers are ready to help answer any questions that you have. Taking an application over the phone could be as quick as 10 minutes.

Get Approved

We will review your loan application, your property will be appraised, underwritten, and approved.

Fund

Once all items have been satisfied and we are clear to close, loan docs will be drawn. You’ll sign loan docs and your loan will fund.

Apply Online

Our licensed loan officers are ready to help answer any questions that you have. Taking an application over the phone could be as quick as 10 minutes.

Get Approved

We will review your loan application, your property will be appraised, underwritten, and approved.

Fund

Once all items have been satisfied and we are clear to close, loan docs will be drawn. You’ll sign loan docs and your loan will fund.

Why Equinox?

Here at Equinox Home Financing, we pride ourselves on providing solutions to self-employed home buyers and borrowers. If you can’t provide proof of income or you are like most other business owners who have an overage of tax deductions, we can help you!
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We are the Alternative Mortgage Financing Experts.

At Equinox Home Financing, we've helped thousands of borrowers purchase and refinance homes using some of the industry's most innovative financing solutions. Put our knowledge and experience to work for you. Contact us today for a free quote and consultation.

Funded Home Loans

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Application to Closing Conversion

Funded Home Loans

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Answers to Your Questions

What is a FHA Profit & Loss loan?
An FHA Profit & Loss loan is for someone who is self-employed but can’t prove their income. Typically, this borrower has a lot of tax deductions and writes off a lot of expenses; therefore, on paper, the net income is too low to be used for a conventional loan program. Here at Equinox, we have the option to not use your income, and we verify that by using a CPA-verified Profit & Loss statement instead. As long as a homeowner or buyer can demonstrate they have sufficient funds in the bank to continue making on-time payments, they qualify for the loan program.
Is My Credit Score a Factor in Getting Approved?
When doing an FHA Profit & Loss loan, we do look at your credit score. These programs are a lot more lenient than traditional loans are, so we can go as low as a 640 FICO score at times. Also, when doing a FHA Profit & Loss loan, we are very easy on past short sales, foreclosures, or derogatory credit. If your financial situation makes sense today, we can lend you the money you need for a FHA Profit & Loss purchase loan or a refinance loan.
What Kind of Loan Terms Do You Offer?
FHA Profit & Loss loans come in all types of loan terms. It’s a very flexible program that can help you get the payment that you need. FHA Profit & Loss loans are available as a 5 Year Adjustable Rate Mortgage, which will get you the best interest rates. If you want a longer term, we have a 7 Year Adjustable Rate Mortgage available and a 30 Year Fixed Rate option available as well. Some borrowers prefer interest-only payments, which we can do as well, so that you can keep your monthly payments as low as possible.
How Do I Get Qualified?
The process is simple. When most people call us, they are usually skeptical about the program and whether they can really qualify. Here at Equinox Home Financing, we have been providing these programs since they were made available and have been able to help many borrowers get the money they need to purchase a new home. The first step is to call us; a professional will help consult you and explain how our programs work in detail. There are many types of programs, and it’s best to speak with us so we can guide you in the right direction.
What Type of Properties Can I Finance?
It depends on what type of loan program you are qualified for. With an FHA Profit & Loss loan program, we can offer this loan on an owner-occupied, second home, or Investment property. We can lend on single-family residences, condos, and 1-4 unit properties.

Our Latest Funded Loans

Take a look at some of the loans we recently funded for our self-employed customers.
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