Loan Programs  |  10

Self-Employed Loans

Your business is doing great. Your tax return just doesn't brag about it.

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The quick version

How it works

Self-employed borrowers often run into the same problem: smart write-offs lower your taxable income, which makes you look less qualified on paper than you really are. Self-employed mortgage options solve that by looking at your real cash flow. Bank statement loans use 12 or 24 months of personal or business deposits instead of tax returns. Other options use 1099s, a CPA-prepared profit and loss statement, or your assets. If your returns do tell the whole story, a conventional loan may still be your best price, and we'll check that first.

Highlights

Bank statement qualifying

12 or 24 months of deposits instead of tax returns.

1099 and P&L options

Built for contractors and business owners.

Asset-based qualifying

Strong savings can qualify you on their own.

Conventional checked first

If your returns work, we'll price the lowest-cost option.

FAQ

Questions people actually ask

Tap a question to see the answer.

1What is a bank statement loan?+
A loan that calculates your income from 12 or 24 months of bank deposits instead of your tax returns. It's designed for self-employed borrowers whose write-offs lower their taxable income.
2How long do I need to be self-employed?+
Most programs want about two years of self-employment history, though some allow less with prior experience in the same line of work.
3Should I use personal or business bank statements?+
Either can work. Business statements usually have an expense factor applied. We'll look at both to see which gives you the stronger qualifying income.
4Are rates higher than a conventional loan?+
Usually a bit higher, because these are non-QM loans with more flexible documentation. That's why we always check conventional first.
5I'm a 1099 contractor. What are my options?+
Some programs qualify you on your 1099 income directly. If your expenses are low, this can be simpler than bank statements.
6What if most of my wealth is in savings or investments?+
Asset-based loans can qualify you using your liquid assets instead of income. It's popular with retirees and investors.
7Can I use these loans for a second home or rental?+
Yes. Many self-employed programs cover primary homes, second homes, and investment properties.
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This information is general and educational. It is not a commitment to lend. Program guidelines vary by lender, change over time, and are subject to credit approval and underwriting.

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Plano Mortgage Broker

Mohave Mortgage

5830 Granite Pkwy # 100-213

Plano Texas, 75024

Office: (469) 414-5554

Branch NMLS # 2690682

Mohave Mortgage

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