Helping self-employed borrowers is one of the things we do best. We have several ways to document your income so your loan reflects what your business actually earns.
Ways to qualify
Bank statements
Qualify using 12 or 24 months of business or personal bank statements. We look at your deposits to determine your income instead of relying only on your tax returns.
Profit and loss statement
Some programs let you qualify with a profit and loss (P&L) statement, sometimes prepared by a CPA or tax professional.
1099 income
Independent contractors and gig workers can qualify using 1099 forms.
Tax returns
If your returns already support the loan you need, a traditional loan with tax returns may be the simplest path, and we'll tell you if that's the case.
What you can use it for
- Buying a home
- Refinancing to lower your payment or change your term
- Cash-out refinance to use your home's equity
- HELOC or home equity loan to access cash while keeping your first mortgage
Who we help
Business owners, freelancers, consultants, contractors, real estate agents, doctors and dentists with private practices, rideshare and gig workers, and anyone whose income doesn't fit neatly on a W-2.
Tips to make it smoother
- Keep business and personal accounts separate when you can. It makes your deposits easier to review.
- Be ready to explain large deposits. A short note about any unusually big deposit saves time.
- Consistency helps. Steady deposits over time carry more weight than one big month.
Buying a rental property?
If the home will be a rental, a DSCR loan may qualify you based on the property's rent instead of your personal income.
Where this is available
Self-employed loans are available for homes you live in and investment properties in California, Arizona, Colorado, Florida, and Texas.
Program availability can vary by state and property. Contact us to confirm options for your home.