Home Loans for Self-Employed Buyers: Purchase, Refinance & Cash-Out Options

If you’re self-employed, you already know the freedom and flexibility that come with being your own boss. But when it comes to getting a mortgage, that same freedom can sometimes work against you. Traditional lenders often look for W-2s and pay stubs, and if you write off a large portion of your income, it may seem like you don’t qualify on paper.

That’s where I come in. As an experienced mortgage loan officer with access to over 250 lenders and 20+ years of experience, I specialize in helping self-employed individuals like you purchase a home, refinance, or pull cash out—even if your tax returns don’t tell the whole story.

Purchase Loans for the Self-Employed

Whether you’re buying your first home, upgrading, or investing, I offer a variety of flexible loan options tailored to self-employed buyers:

1. Bank Statement Loans

  • We use 3, 6, 12 or 24 months of personal or business bank statements to calculate your income. We take qualified deposit, add them together, divide them by the months selected, deduct a basic expense, and this becomes your qualified income.
  • No tax returns required.
  • Great for business owners who reinvest profits and show limited net income on taxes.
  • You just need to be able to prove that you were self-employed for at least 1 year, sometimes 2, depending on the lender.

2. 1099-Only Loans

  • Designed for independent contractors and freelancers.
  • Use your 1099 income instead of full tax documentation, I can use up to 90% of your 1099 for your qualified income.
  • You just need to be able to prove that you were self-employed for at least 1 year, sometimes 2, depending on the lender.
  • Credit scores as low as 620
  • A minimum of 10% down payment is required for purchases

3. Profit & Loss Statement Loans (P&L Only)

  • Qualify with a CPA-prepared or self-prepared P&L.
  • Minimal documentation required.
  • Ideal for businesses with consistent revenue.
  • Credit scores as low as 620
  • A minimum of 10% down payment is required for purchases

4. Asset Depletion Loans

  • Turn your liquid assets—savings, retirement, investment accounts—into qualifying income. I take your verified assets, divide them by 60 and that becomes your monthly income. I can often times combine that with your other verified income.
  • No employment or income documentation required.
  • Credit scores as low as 620
  • A minimum of 10% down payment is required for purchases

5. No Doc Loans

  • For high-credit borrowers with significant reserves.
  • Minimal paperwork.
  • Great for privacy-conscious individuals.
  • A minimum of 10% down payment is required for purchases with 740 or higher credit scores.

Refinance Options for Self-Employed Borrowers

Already own a home? Let’s talk about refinancing:

Rate-and-Term Refinance

  • Lower your monthly payments.
  • Switch from an adjustable to a fixed rate.
  • Shorten your loan term.
  • Available with the same flexible income documentation as purchase loans.

Cash-Out Refinance

  • Tap into your home equity for business growth, debt consolidation, or life events.
  • Bank statement and asset depletion options available.
  • Higher loan limits with flexible credit requirements.

Why Work With Me?

I understand the unique challenges self-employed borrowers face, and I know how to structure loans to work in your favor. I’ll walk you through each step of the process and match you with a lender that understands your financial picture.

With access to:

  • 250+ lender options
  • FHA, VA, Non-QM, Jumbo, and Conventional loan products
  • The most competitive rates and flexible underwriting in the industry

You’ll have the confidence and tools you need to move forward.

Ready to explore your options? Schedule a free consultation or complete the online application, and let’s find the best self-employed loan solution for you. 214.945.1066

Richard Woodward, NMLS #217454
Branch Manager | Your Trusted Mortgage Broker
NEXA Mortgage, LLC | NMLS #1660690