When Do You Need a Profit & Loss Statement for a Mortgage? Mortgage Mark | Dallas Mortgage Lender

Hey folks, Mark Pfeiffer here! If you're self-employed and applying for a mortgage, let’s talk about when and why a lender might ask for a profit and loss statement. It’s not about creating income—it’s about confirming what’s already been shown on your tax returns. Whether you're buying a primary home, vacation property, or investment property, this quick breakdown explains how P&Ls work in mortgage lending. Timestamps: 00:00 Introduction 00:24 What a P&L Is 01:05 When a P&L Is Required 01:55 Example of Year-to-Date Validation 02:50 P&L Validates—Not Calculates—Income 03:36 Why Underwriters Ask for It 04:31 Can You Make Your Own P&L? 05:20 When a CPA Might Need to Audit It 06:02 Final Thoughts Mark Pfeiffer here, the face of Mortgage Mark based in Dallas, Texas and working all over the US, US Virgin Islands, and Puerto Rico! I'm here to help you get your mortgages done smarter, better, and faster with an experienced team who cares. I manage a whip-smart team ready to help you buy your next home and reach your goals. Contact us today to get the best lending experience you'll ever have! Mark Pfeiffer, Mortgage Loan Originator, NMLS #729612 CMG Home Loans, NMLS #1820 5495 Belt Line Rd., Suite 140, Dallas, TX 75254 Office: 972.829.8639 | Cell: 972.898.2595 | Fax: 972.782.4803 Email: MortgageMark@MortgageMark.com www.MortgageMark.com LET'S GET SOCIAL Instagram: @MortgageMarkPfeiffer Facebook: Mortgage Mark TikTok: @MortgageMarkPfeiffer