Originating Residential and Commercial Loans Since 1998

A profit and loss only mortgage, also known as a bank statement loan or self-employed mortgage, is a type of mortgage designed for self-employed individuals or small business owners who may not have traditional income documentation, such as W-2 forms. Pineyro Capital Group Inc., NMLS# 420112, understands the unique financial circumstances of self-employed borrowers and offers profit and loss only mortgages as a flexible financing solution. With this type of mortgage, your income is verified based on your bank statements and profit and loss statements, rather than traditional tax returns or pay stubs. This can be particularly beneficial for individuals with fluctuating income, multiple streams of revenue, or significant business expenses. Pineyro Capital Group Inc., NMLS# 420112, prides itself on providing personalized mortgage solutions to meet the diverse needs of self-employed borrowers, offering competitive rates and exceptional customer service throughout the loan process. If you are self-employed and seeking a mortgage, consider reaching out to Pineyro Capital Group Inc., NMLS# 420112, to explore the options available to you.

A profit and loss only mortgage, also known as a bank statement loan, differs from traditional mortgages in that it allows self-employed individuals or business owners to qualify for a mortgage based on their bank statements and profit and loss statements instead of traditional income documentation such as tax returns and W-2 forms. This type of mortgage takes into account the cash flow of the borrower's business rather than their personal income. Pineyro Capital Group Inc., NMLS# 420112, specializes in helping self-employed individuals and business owners navigate the mortgage process, offering tailored solutions to fit their unique financial circumstances. With this approach, our clients can access mortgage financing even if they have non-traditional income streams, making homeownership more accessible to a wider range of individuals. Our team of Mortgage Loan Originators is dedicated to providing personalized guidance and support throughout the application and approval process, ensuring that each client receives the best possible financing options for their specific needs.

A Profit and Loss Only Mortgage in Florida is designed for self-employed individuals who may not have traditional income documentation, such as W-2 forms, but can prove their income through profit and loss statements. At Pineyro Capital Group Inc., NMLS# 420112, we understand the unique financial situations of self-employed borrowers and can help individuals who are looking to purchase or refinance a home in Florida. To qualify for a Profit and Loss Only Mortgage, self-employed individuals will need to provide at least two years of self-employment history, along with business and personal tax returns, profit and loss statements, and bank statements to demonstrate consistent income. Our team of Mortgage Loan Originators is dedicated to helping self-employed borrowers navigate the mortgage process and find the right financing option for their specific needs. Contact us today to learn more about our mortgage products and how we can assist you in achieving your homeownership goals.

A Profit and Loss Only Mortgage, also known as a Bank Statement Mortgage, is ideal for self-employed individuals or small business owners who may not have traditional income documentation, such as W-2s or tax returns. At Pineyro Capital Group Inc., NMLS# 420112, we understand the unique financial situations of our clients and offer this specialized mortgage product to accommodate their needs. The advantages of a Profit and Loss Only Mortgage include the ability to use bank statements or profit and loss statements to verify income, instead of traditional documentation. This allows flexibility for borrowers with fluctuating income or non-traditional sources of revenue. Additionally, these mortgages often have more lenient credit score and debt-to-income ratio requirements, making homeownership more accessible for self-employed individuals. Our team at Pineyro Capital Group Inc. is dedicated to offering personalized solutions that cater to the specific financial circumstances of each client, and we are committed to guiding you through the process of obtaining a Profit and Loss Only Mortgage with expertise and care.

As Pineyro Capital Group Inc., NMLS# 420112, Mortgage Loan Originators in Florida, here are some potential disadvantages or risks of a profit and loss only mortgage:

1. Higher Interest Rates: Profit and loss only mortgages may come with higher interest rates compared to traditional mortgages, potentially increasing overall borrowing costs.

2. Limited Lender Options: Since profit and loss only mortgages are less common, borrowers might have limited options when selecting lenders, leading to fewer competitive offers.

3. Stricter Qualification Criteria: Lenders may require more extensive documentation and have stricter qualification criteria for profit and loss only mortgages, making approval more challenging for some borrowers.

4. Variable Income Risks: Borrowers with fluctuating income streams, such as self-employed individuals or those with seasonal employment, may face difficulties in meeting payment obligations during lean periods, increasing the risk of default.

5. Prepayment Penalties: Some profit and loss only mortgages may come with prepayment penalties, which can limit borrowers' flexibility in refinancing or paying off the loan early without incurring additional costs.

6. Limited Property Options: Certain types of properties, such as condominiums or investment properties, may not be eligible for profit and loss only mortgages, limiting borrowers' choices in the real estate market.

7. Market Volatility: Economic fluctuations or changes in the real estate market can impact the profitability of investment properties financed through profit and loss only mortgages, potentially exposing borrowers to financial risks and losses.

It's essential for borrowers to carefully weigh these disadvantages and risks against the potential benefits of a profit and loss only mortgage before making a decision.

For a profit and loss (P&L) only mortgage application in Florida tailored to self-employed borrowers, the necessary documentation typically includes:

- A profit and loss statement covering the last 12 months, meticulously prepared by a certified public accountant (CPA) or licensed tax preparer possessing a PTIN number.

- Evidence of income showcasing the borrower's financial stability and capacity to repay the mortgage.

- Statements detailing personal assets, providing a comprehensive overview of the borrower's financial standing.

- A letter issued by a CPA containing essential details such as:

• The borrower's ownership percentage in the business.

• Duration of self-employment, establishing stability and experience.

• Current operational status of the business, offering insights into its viability and ongoing success.

This documentation serves to substantiate the borrower's income, assets, and business stability, facilitating the mortgage application process for self-employed individuals in Florida.

At Pineyro Capital Group Inc., NMLS# 420112, we strive to offer competitive interest rates that are comparable to those of traditional mortgages. Our team works diligently to provide our clients with the best possible rates based on market conditions, creditworthiness, and the specific loan product chosen. We understand that the interest rate is a critical factor in the loan process, and we are committed to finding the most favorable terms for our clients. Our focus is on transparency and integrity, ensuring that our clients receive clear and accurate information about their mortgage options. Whether you are a first-time homebuyer or refinancing an existing loan, we are dedicated to helping you secure a mortgage that meets your financial goals and fits your individual circumstances.

At Pineyro Capital Group Inc., NMLS# 420112, Licensed Florida Mortgage Loan Originators, we determine the loan amount for a profit and loss (P&L) mortgage in Florida by evaluating a business owner's P&L statements, which show a business's income and expenses over a specific period, usually a year. PCG will then determine how much we can lend by subtracting any expenses from the profits using the P&L statements. The loan amount is usually a percentage of the business's annual revenue or net profit.

When obtaining a mortgage from Pineyro Capital Group Inc., NMLS# 420112, there are certain restrictions on the type of property you can purchase. Our mortgage loans are typically designed for primary residences, second homes, and investment properties such as single-family homes, townhouses, and condos. However, there may be limitations on purchasing vacation homes, commercial properties, co-ops, mobile homes, and certain other types of properties. It's important to discuss your specific property type with our experienced Mortgage Loan Originators to ensure that it meets the criteria for our mortgage products. We aim to provide tailored solutions to meet your individual needs and guide you through the property purchasing process. If you have any questions regarding the type of property you wish to purchase, don't hesitate to reach out to us for personalized assistance.

A profit and loss only mortgage, also known as a bank statement loan, is designed for self-employed individuals or independent contractors who may not have traditional income documentation, such as W-2 forms. If you are a resident of Florida and are self-employed, this type of mortgage may be right for you if you have a stable income and can provide consistent bank statements to demonstrate your ability to repay the loan. At Pineyro Capital Group Inc., NMLS# 420112, we specialize in helping self-employed individuals navigate the mortgage process and find the best financing options for their unique financial situations. Our experienced loan officers can assess your specific circumstances and guide you through the process of obtaining a profit and loss only mortgage that meets your needs. Contact us today to discuss your options and determine if this type of mortgage is the right fit for you in Florida.