Self-Employed Borrowers

Profit and Loss Statements for Mortgage Approval

What underwriters expect on a CPA-prepared P&L.

4 min readUpdated 2026Self-Employed Borrowers

Format and preparer

P&Ls should be prepared or attested by a licensed CPA or tax preparer, covering the year-to-date period.

Consistency with bank activity

Deposits shown in bank statements should broadly match the revenue reported on the P&L.

Key takeaways

  • Third-party prepared P&Ls are the standard.

Frequently asked questions

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