P&L-only loans — the No-Ratio / No-Income-Verification non-QM program. No tax returns, no bank statements. Your P&L is enough.
Qualify on one document: a P&L prepared by your CPA or licensed tax preparer — with self-prepared P&L and future income projection options available. Perfect if your tax returns don't show your real income — and you don't have to be self-employed to use it.
- No-Ratio / No-Income Verification — the same program under its non-QM name: no income ratio from tax returns, no pay stubs, no W-2sprimary-residence guide →
- No bank statements required — none. Qualify with a profit & loss statement alone; no tax returns eithersee how it works →
- No self-employment requirement — W2 and self-employed both welcome
- Self-prepared P&L and future income projection options available
- Turned down elsewhere for income? With real income and solid credit, we may be able to help
- Qualify on stated profit — write-offs don't count against you
- Skip the 12–24 months of bank statements other lenders demand
- No deposit-by-deposit interrogation of your accounts
- Up to 80% LTV on purchase, 75% on cash-out — program starts at 640 FICO
- Loan amounts from $150,000
Or skip the form — call or text us: 949-738-9770
What type of property is this?*
What loan type are you interested in?*
What is the property address?*
Depending on location we may have specific programs
What's the purchase price or refinance amount?
Loans from $75,000 up to $5,000,000 — HELOCs from $50,000
Are you purchasing or refinancing?*
How is your credit?*
P&L Only starts at 640 FICO
Is the property occupied or vacant?*
When was the property purchased?*
Who are we preparing options for — and where do we send them?*
Legal name of the primary borrower. We'll text and email your scenario — a real person from our Irvine office. Never sold, no spam.
Where should we send your options?*
We'll email your scenario and next steps — never sold, no spam.
Last step — everything look right?*
Review your details and hit Submit — a real person from our Irvine office will reach out. No call centers, never sold, no spam.
Notice: By providing your name and contact information you are expressly consenting to receive communications from Cap Rate Funding, Cap Rate Funding agents, or affiliated partners which may include phone calls (including to any wireless number that you provide) including automatic telephone dialing systems or by artificial/pre-recorded messages, text message and/or emails for the purpose of marketing Mortgage products and services. By providing your information, you understand that your consent is not a condition of the purchase of any product or services, and carrier messaging and data rates may apply. You may revoke this consent at any time by calling us at 949-738-9770 or by emailing us at chase@capratefunding.net to be placed on our do-not-call list. By clicking Submit: I Consent to Receive SMS Notification, Alerts & Occasional Marketing Communication from Cap Rate Funding. Message frequency varies. Message & data rates may apply. Text HELP to 949-738-9770 for assistance. You can reply STOP to unsubscribe at any time.
What's the purchase price?*
Your best estimate is fine — we'll tailor the loan to it
What is the existing balance on your property?*
Include all liens — first, second, HELOC. Enter 0 if it's paid off.
What is the current value of the property? (Your best estimate)*
Your equity sets the maximum loan — this tells us how much room there is.
We can still do this — with a bigger down payment.
For this credit tier, our lenders can approve the purchase only when you bring at least 50% down, plus closing costs, out of pocket. If you can do that, we'll keep going right now — equity does the qualifying that credit can't.
Not sure? Call us: 949-738-9770
You're in! Now lock in your call.
Your scenario is in the queue. Pick a time below and we'll go over your options together — usually the same business day.
To make the call count, have these handy: your property address, a recent mortgage statement (or your payoff balance), and a ballpark of your credit score.
Book My Call — Open CalendarPrefer to talk now? Call 949-738-9770 · Book a call
You're booked! One more thing…
Save our contact now — we'll be calling you from 949-738-9770. With it saved, your phone shows Chase Zhao · Cap Rate Funding instead of “Scam Likely” or an unknown number, so you'll know it's us calling about your appointment.
Prefer to add it yourself? Chase Zhao · 949-738-9770 · chase@capratefunding.net
We can't lend on a primary residence in your state yet.
For a home you live in (or will live in), our lenders are set up in . Your property is in , and we're not able to move forward on an owner-occupied loan there today.
Two honest paths from here: if the property is actually a rental or investment, go back and choose Investment Property — our investor programs cover most states. Otherwise, call or text us and we'll point you to a lender who can help.
Call us to talk it through — 949-738-9770One more question — is your credit score 500 or higher?*
Below 640 the P&L loan isn't available, but your equity may qualify you for a different program that accepts credit from the 500s.
Good news — your equity opens a better door.
Below 640, the P&L loan isn't the fit here — but your equity is. Based on your numbers, the Home Equity Agreement can work where a loan can't: cash from your equity with no monthly payments and credit accepted from the 500s — in exchange for a share of your home's future value.
How the HEA worksQuestions? Call us: 949-738-9770
We're not the right fit for this one.
Based on your answers, we aren't able to offer a program for this scenario at your current credit score. P&L Only starts at 640 FICO. If your score improves, we'd love to take another look — and you're always welcome to call us to talk through your options.
Call 949-738-9770We're not licensed to lend on primary residences in your state.
For owner-occupied homes, Cap Rate Funding is licensed in Alabama, Arizona, California, Colorado, Florida, Idaho, Iowa, Louisiana, Maryland, Michigan, Minnesota, New Mexico, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah & Washington only. Because this property is your primary residence, we aren't able to help with this one — and we'd rather tell you now than waste your time.
Own an investment property? That's a different footprint — our investor programs are available in nearly every state.
You’ll work directly with Chase Zhao, President · NMLS #1816148P&L must be prepared by a CPA or licensed tax preparer. Program starts at 640 FICO. Purchase: 20% down at 680+, 25% at 660–679, 30% at 640–659. Refinance (rate-and-term or cash-out): 75% LTV at 660+, 70% LTV at 640–659. Second-position HELOC documented with a P&L: 680+ FICO. Subject to program guidelines and credit approval.
Can we fund your deal? Check before you apply.
We'd rather tell you now than waste your time. Here's our lending box, plainly stated.
See exactly what we can & can’t fund
We can help with:
- Financing at 620+ FICO — primary homes and investment properties
- DSCR investment deals at any credit score — LTV is capped by credit tier; below 620 FICO caps at 50% LTV
- Investment property refinances — flexible credit, conditional lending available below 620
- Primary-home refinances under 620 FICO — California properties only
- Free-and-clear cash-out in OR, WA & ID — any credit score, $200,000+, up to 50% LTV
- HEA — credit accepted from the 500s; your FICO band sets the maximum OLTV (60–75%)
- Reverse mortgages — any credit score, primary residence, current balance under 50% of home value
- Loan amounts from $75,000 up to $5,000,000 (DSCR capped at $3M, HEA at $600K)
We're not the right fit for:
- New financing under 620 FICO (except DSCR investment deals, capped at 50% LTV)
- Primary-home refinances under 620 FICO outside California
- Loan amounts under $75,000 ($50,000 for HELOCs)
If your score improves, come back — we'd genuinely love to take another look. Questions about a gray-area scenario? Call 949-738-9770.
One document. That's the whole point.
The P&L-only loan takes Non-QM to its logical end for business owners.
Short list, one document.
- P&L statement from your CPA or licensed tax preparer
- 640+ FICO — that's where the program starts (680+ for a P&L-documented HELOC in second position)
- LTV: purchase 80% at 680+, 75% at 660–679, 70% at 640–659 · refinance 75% at 660+, 70% at 640–659
- Rate & term or cash-out — both work
Everything that punishes the self-employed.
- No tax returns — your write-offs stay your business
- No bank statements — nothing to gather, nothing to explain
- No deposit reviews — full financial privacy
- No W-2s or paystubs — you don't have them anyway
Tailored solutions for every scenario.Three programs fund most deals.
One conversation gets your scenario priced across a network of 100+ lenders — with the trade-offs explained straight.
HELOC, P&L Only, and DSCR do the heavy lifting — one conversation prices your scenario across 100+ lenders. Need something else? Call 949-738-9770.
HELOC
Up to 90% CLTV, funded in as little as 5 days, no appraisal required. $50K–$5M, owner or non-owner occupied, 1–4 units.
Check my equity →P&L Only Loan
Qualify with one P&L — CPA-prepared or self-prepared options, even future income projections. No tax returns, no bank statements. 640+ credit, $150K+.
See P&L options →DSCR
The rent qualifies — not your income. 1–4 unit rental properties, personal name or LLC, no cap on properties. No minimum FICO.
Price my rental →Cash-Out & Investor Refinance
Replace your mortgage and take a lump sum, or reposition rental debt to free up trapped capital.
Compare my options →Rental Property Loans
Financing for 1–4 unit rental properties — including 2–4 unit multi-family.
See rental programs →Hard Money
Asset-based lending for deals that can't wait for a bank. Credit flexible — underwritten on the asset.
Fund my deal →VA Loan
Cash-out up to 100% LTV, plus IRRRL streamline refis with no appraisal, income docs, or minimum FICO. Veteran-first guidance.
See VA options →FHA Loan
Flexible qualifying on your primary residence with credit from 620. A practical path to your equity.
See FHA options →Reverse Mortgage
Primary residence, any credit score, current balance under 50% of value. Access equity without a monthly mortgage payment.
Check my eligibility →HEA
No monthly payments, up to $600K. Your FICO band sets the max OLTV — 60–75%, all lien positions considered.
Price my scenario →Landlord Insurance
Quote and bind rental-property coverage in minutes through our partner Steadily — so your closing never waits on a policy.
Get an insurance quote →Let the funnel decide.
Answer a few quick questions and we'll route your scenario to the right program — 60 seconds, no hard credit pull.
Find my program →
Non-QM is our specialty.
Cap Rate Funding is a team of non-QM lending experts based in Irvine, CA. When the banks say no, we usually have a yes — DSCR, P&L-only, bank-statement, HELOCs, hard money, and home equity agreements are what we do all day, backed by a network of over 100 wholesale lenders.
When you reach out, your scenario goes straight to our team — no call centers, no hand-offs. We'll tell you quickly whether we can help, what it'll roughly cost, and what we'd need from you. And if a loan doesn't make sense for your situation, we'll tell you that too.
Recently funded deals.
Real closings, straight from our Instagram — HELOCs funded in days, P&L and DSCR loans other lenders passed on.
| Deal Type | Location | Loan Amount | Highlight |
|---|---|---|---|
| HELOC | Santa Fe Springs, CA | $397,000 | Funded in 5 days |
| P&L Loan | Irvine, CA | $930,000 | Primary residence · complex title solved |
| DSCR | Detroit, MI | $1,194,200 | 7-property portfolio, one client |
| Digital HELOC | Rural property · 2+ acres | $276,393 | Funded in 7 days · no tax returns |
| P&L · 2nd Lien | Vale, CO | $400,000 | No full appraisal · rural OK |
| DSCR | New Jersey | $562,500 | Reverse 1031 exchange purchase |
| Cash-Out Refi | Texas (A6) | $350,000 | No income verification |
"Chase truly made the process feel effortless and straightforward. The communication was excellent throughout, and I was impressed by the speed and experience he demonstrated."
Google Review · HELOC client"Chase made our HELOC process incredibly easy, smooth, and fast from start to finish. Excellent communication, professional service, and quick turnaround."
Google Review · HELOC client"Fast, reliable, and very honest. Throughout the loan process, I always knew what the next step was. I truly appreciate the professionalism and support!"
Google Review · Investor clientGo beyond with Cap Rate Funding.
Initial Consultation
Share your scenario — refinance or cash-out — and we'll assess your needs. 60 seconds online or one phone call.
Customized Solutions
Your scenario priced across 100+ lenders, with options tailored to your goals.
Application & Approval
Complete your application and receive fast approvals — often with fewer documents than you'd expect.
Closing & Beyond
Seamlessly close your loan and enjoy continued support on the next one.
P&L-only loan questions, before you ask.
What is a P&L-only loan?
Also called a profit and loss statement loan, a P&L loan, or a P&L mortgage — same program. A mortgage for self-employed borrowers that qualifies on one document — a profit & loss statement — instead of tax returns. No bank statements, no deposit reviews, no employment verification from a W-2.
Who can prepare the P&L statement?
A CPA or licensed tax preparer — and self-prepared P&L options exist too, including future income projections for growing businesses. We'll tell you which version fits your scenario on the call.
Do you need my tax returns or bank statements at all?
No. That's the point of the program: if write-offs make your tax returns understate what your business really earns, the P&L tells the true story and the returns stay out of the file.
What credit score and down payment does a P&L-only loan require?
The program starts at 640 FICO with loan amounts from $150,000. Purchases: 20% down at 680+, 25% down at 660–679, 30% down at 640–659. Refinances (rate-and-term or cash-out): up to 75% LTV at 660+ and 70% LTV at 640–659. A P&L can also document a HELOC in second position at 680+.
Who are P&L-only loans best for?
Self-employed borrowers, 1099 contractors, and business owners whose tax returns show heavy write-offs — anyone whose real income is healthier than their taxable income. If banks keep saying no to your returns, this is the program built for you.
Will checking my options hurt my credit?
No. Seeing your options involves no hard credit pull. A hard inquiry only happens later, with your permission, when you move forward with an application.
How fast can I actually get funded?
It depends on the program. Our HELOC can fund in as little as 5 business days. Other programs typically run 2–4 weeks. On your call we'll give you a realistic timeline for your exact scenario.
What does this cost me?
Checking your options costs nothing and commits you to nothing. If you proceed, all program costs are disclosed to you up front before you sign anything — no surprises at closing.
What happens to my information?
It goes to our team to price your scenario, and to the service providers that help us run the site — our CRM, scheduling, email and analytics tools. We never sell your information to third parties, and we only share it with a lender once you decide to move forward. See our Privacy Policy.
I'm self-employed and banks keep saying no. Can you help?
That's our specialty. P&L-only loans need one document from your CPA — no tax returns, no bank statements. DSCR loans qualify on the rent, not your income. And our HEA accepts credit from the 500s.
Fast. Flexible. Funded.
Whether you're tapping equity or repositioning the portfolio — check your options in 60 seconds, with no hard credit pull.