Self-Employed Mortgage Loans
Flexible Financing for Business Owners
Self-employed mortgage loans offer flexible documentation options for entrepreneurs and business owners. From bank statement loans to P&L financing, these programs recognize your unique income structure.
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Comparing Your Self-Employed Loan Options
From using bank statements to leveraging your business's P&L, each program offers a different path to approval. This table highlights the key differences to help you identify the best fit for your business structure and documentation.
| Feature | Bank Statement Loan | 1099 Income Loan | P&L Statement Loan | DSCR Loan (for Investors) |
|---|---|---|---|---|
| Income Documentation | 12-24 months of personal or business bank statements. | 1-2 years of 1099 forms. | A recent Profit & Loss statement prepared by a CPA/EA. | None. Based on property's rent income. |
| Best For | Business owners with high cash flow but significant tax deductions. | Independent contractors, freelancers, and gig economy workers. | Established business owners with clean, professional financials. | Self-employed real estate investors buying rental properties. |
| Typical Down Payment | 10-20% | 10-20% | 10-20% | 20-25% |
| Complexity | Moderate. Requires analysis of bank statement deposits. | Simple. Based on gross income from 1099s. | Simple. Based on the P&L's bottom line. | Very Simple. No personal income reviewed. |
| Loan Term | 30-year fixed | 15 or 30-year fixed | 15 or 30-year fixed | 6-24 months (short-term) |
| Key Advantage | No personal income verification. | Lower interest rates. | Streamlines financing for a large portfolio. | Speed (can close in days). |
In-Depth Guide to Self-Employed Loans
Let's explore the details of each self-employed loan program.
Frequently Asked Questions
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Our self-employed loan specialists understand your unique financial situation and can help you find the right loan program for your business structure.
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