You run a business.Your mortgageshould get that.
Your tax returns are built to lower your taxes, not to prove your income. That's smart business, and it's exactly why so many self-employed borrowers get told no. We qualify you the way your business actually earns: tax returns when they work, and bank statements, a P&L or 1099s when they don't.
Secure application, about 10 minutes. A licensed loan officer reviews it and reaches out to walk you through your options.
Who we help.
A strong fit if
- You own a business, an LLC or an S-corp, or you're a sole proprietor
- You're a 1099 contractor, consultant, realtor, truck driver or gig worker
- Your write-offs make your tax returns show much less than you really earn
- A bank told you your income was too low or too hard to document
- You want to buy a home, refinance or take cash out for your business
Compare options if
- Your tax returns already show strong, steady income. A conventional or FHA loan will usually cost less, and we'll start there
- You've been self-employed less than a year with no prior history in the same line of work
Five ways to qualify when you work for yourself.
We start with the cheapest loan you qualify for, then move to bank statement or P&L programs only if your tax returns don't tell the full story.
| Tax returns (conventional or FHA) | Usually 2 years of personal and business tax returns, averaged. Some files qualify with 1 year. Best pricing when your returns show enough income. |
|---|---|
| Bank statements | Qualify on 12 or 24 months of personal or business deposits instead of tax returns. The lender applies an expense factor to business deposits, or uses a CPA letter or P&L to show your real margin. |
| Profit and loss (P&L) | Qualify on a 12 or 24 month P&L prepared or signed by a CPA, enrolled agent or tax preparer, sometimes with a few months of bank statements to back it up. |
| 1099 only | Paid as a contractor? Qualify on your 1099s, with a standard expense factor instead of your Schedule C write-offs. |
| Savings-based | Strong savings or investments but uneven income? Qualify on your assets instead of a paycheck. |
| Credit and down payment | Bank statement programs usually start around 600 to 620 and 10% to 20% down. The better your credit and the more you put down, the better the rate. |
| Time in business | Usually 2 years self-employed. Some programs accept 1 year if you worked in the same field before. |
| After you close | Business owners don't get a 401k match, a pension or group life insurance. Marcus helps self-employed clients build their own: tax-free retirement income, protection for the business, and a plan for uneven income, through Money Experts. |
What to have ready.
Don't have everything yet? Apply anyway. Your loan officer will tell you exactly what's missing.
- A photo ID
- Your last 2 years of personal and business tax returns, if you have them
- 12 or 24 months of personal or business bank statements
- Proof your business exists, such as a business license, articles of organization or a CPA letter
- 2 months of statements for the account your down payment comes from
What happens after you apply.
You apply in about 10 minutes
Online, from your phone or computer. Prefer to talk? Call (301) 341-2200 and we'll fill it out with you.
A loan officer calls you
We review your goals and your documents and tell you plainly what you qualify for.
We shop the lenders
We compare programs and pricing across our lender partners and walk you through the options before you commit.
Self-Employed questions we hear every week.
Can I get a mortgage if my tax returns show low income?
Yes. A bank statement loan looks at the money actually coming into your accounts instead of your taxable income after write-offs. It usually costs more than a conventional loan, so we price both and show you the difference.
Business or personal bank statements?
Either can work. Personal statements usually count most deposits. Business statements are reduced by an expense factor, or by your real margin if your CPA documents it. We run both to see which qualifies you for more.
Do I need a CPA letter?
Not always. Some programs need a letter confirming you own the business and how long it's been open. A P&L program needs a statement prepared or signed by a tax professional.
Should I write off less this year to qualify?
That's a question for your CPA, not your lender. Showing more income can raise your taxes. A bank statement loan often lets you keep your tax strategy and still buy the home.
Can I refinance later into a cheaper loan?
Often, yes. Once your tax returns show enough income, or your credit and equity improve, many borrowers refinance into conventional. We'll tell you what that would take.
What happens after closing?
For many business owners, the mortgage is the start of the conversation, not the end. Marcus also helps self-employed clients plan for uneven income, retirement without an employer plan, and protecting the business through Money Experts.
Compare other options.
Non-QM Loans
Bank statement, P&L, 1099, asset-based, ITIN, foreign national, interest-only and credit from 600 or no score.
ExploreConventionalConventional Loans
3% down for first-time buyers, and mortgage insurance that comes off at 20% equity.
ExploreRefinanceRefinance & Cash-Out
Lower your rate, drop FHA insurance, shorten your term or take cash out.
ExploreInvestorsDSCR Investor Loans
Qualify a rental on its rent instead of your tax returns. Nationwide.
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