Self-employed

P&L HELOC: Qualify With a Profit-and-Loss Statement

Open a home equity line on a rental, second home or primary residence using your business P&L instead of tax returns.

Start my HELOC request Call (619) 404-6637

12 or 24 moP&L

740min. credit

Up to $750Kline size

80%max CLTV (program)

The basics

What is a P&L HELOC?

A P&L HELOC qualifies a self-employed borrower using a 12- or 24-month profit-and-loss statement instead of tax returns. It suits established business owners whose returns understate their income after write-offs.

Requirements

What are the P&L HELOC requirements?

Our P&L lender requires a 740 credit score, two years self-employed in the same line of work and at least 50% ownership of the business. Bank statements aren’t required to support the P&L.

Guideline	Lender B (P&L program)
P&L period	12 or 24 months
Minimum credit	740
Self-employment history	2 years in the same line of work
Ownership	50% minimum
Bank statement support	Not required
Max CLTV	80% (program max)
Line amount	Up to $750,000
Occupancy	Primary, second home or investment
Lien position	First-lien HELOCs allowed

Lender B is a wholesale lender we have access to and broker loans to. Guidelines as of October 2026; subject to change and underwriting.

Fit check

P&L, bank statement or 1099: which should I use?

Use a P&L when you have a 740+ score and a clean profit statement. If your score is 700–739, a bank statement HELOC is usually the better fit; if you’re paid on 1099s rather than through a business, see the 1099 HELOC.

Investors who’d rather not document personal income at all can qualify on the property’s rent with a DSCR HELOC. Every option is compared on our HELOC on investment property page.

FAQ

P&L HELOC FAQs

What is a P&L HELOC?

A P&L HELOC qualifies a self-employed borrower using a 12- or 24-month profit-and-loss statement for their business instead of tax returns.

What credit score do I need for a P&L HELOC?

Our P&L lender requires a 740 minimum credit score.

Do I need bank statements with a P&L HELOC?

No. Our P&L lender does not require bank statements to support the P&L.

How long do I need to be self-employed?

Two years self-employed in the same line of work, with at least 50% ownership of the business.

How much can I borrow?

Lines up to $750,000 with a maximum CLTV of 80% (program maximum; investment-property limits can be lower).

Can I use a P&L HELOC on a rental?

Yes. The program allows owner-occupied, second-home and investment properties.

Keep exploring

Other self-employed HELOC options

Get started

Request P&L HELOC options

Choose “P&L statement” on the form and we’ll review your scenario before anything is pulled.

Prefer to talk first? Call or text (619) 404-6637.

Programs, guidelines and terms described here come from the wholesale lenders we broker loans to and change often. This is not a commitment to lend; all loans are subject to credit approval, underwriting, property eligibility and state availability. Rates and payment terms are not quoted on this page. Trevor Gravink, NMLS #1707407 | Broker Buddy LLC, powered by Adaptive Mortgage Solutions, NMLS #2022974. Equal Housing Opportunity.