SELF-EMPLOYED HOME LOANS
Home Loans Built for Self-Employed Borrowers
Your tax returns may not tell the whole story. Explore mortgage options that can use bank statements, 1099 income, Profit & Loss statements and other alternative documentation.
Bank Statement 1099 Options P&L Options Alternative Income
✓ Options for business owners and entrepreneurs
✓ Purchase, refinance and cash-out programs
✓ Multiple Non-QM lending solutions
✓ Compare programs from multiple lending sources
Explore Your Self-Employed Options
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MORE WAYS TO QUALIFY
Mortgage Options Designed Around How You Earn
Self-employed income does not always fit traditional mortgage guidelines. Prime Choice Funding can help compare alternative-documentation programs based on your financial picture.
Bank Statement Loans
Qualify using eligible personal or business bank deposits instead of relying only on tax-return income.
1099 Mortgage Loans
Alternative qualification options for eligible independent contractors and 1099 earners.
P&L Mortgage Loans
Eligible Profit & Loss documentation may provide another option for established business owners.
Asset & Alternative Income
Explore programs that may use eligible assets or other approved alternative-income methods.
WHY SELF-EMPLOYED BORROWERS ARE DIFFERENT
Your Taxable Income May Not Reflect Your True Cash Flow
Business owners often take legitimate deductions that lower taxable income. While that may help at tax time, it can make traditional mortgage qualification more difficult.
Alternative-documentation programs may evaluate income differently, using eligible bank deposits, 1099 income, P&L statements or other approved documentation.
Traditional View
Taxable Income
Alternative View
Eligible Cash Flow
Different programs may analyze your business income in different ways.
BANK STATEMENT MORTGAGES
What Is a Bank Statement Loan?
A Bank Statement Loan is an alternative-documentation mortgage that may allow eligible self-employed borrowers to qualify using bank deposits instead of traditional W-2 and tax-return income.
12-Month Statements
Certain programs may review the most recent 12 months of eligible deposits.
24-Month Statements
A longer deposit history may help demonstrate consistency over time.
Personal or Business
Programs may allow personal statements, business statements or other eligible combinations.
HOW INCOME MAY BE CALCULATED
A Simple Bank Statement Example
Lenders generally analyze eligible deposits over the required period. For business accounts, an applicable expense factor may then be used to estimate qualifying income.
Illustration only. Actual calculations vary by lender, program, business type, ownership, eligible deposits and documentation.
Average Eligible Monthly Deposits
$20,000
Illustrative Expense Factor
50%
Illustrative Qualifying Income
$10,000/mo.
Who May Benefit From Self-Employed Mortgage Programs?
Business Owners
Realtors
Contractors
Consultants
Freelancers
Gig Workers
Entrepreneurs
Commission Earners
Which Mortgage Option May Fit You?
Bank Statement
Uses eligible bank deposit history.
1099
Designed for eligible 1099 earners.
P&L
May use eligible business P&L documentation.
Traditional
Standard income documentation when it works.
QUALIFICATION FACTORS
What Do Lenders Typically Review?
Self-Employment History
Business or independent-work history
Income Documentation
Statements, 1099, P&L or other eligible documents
Credit Profile
Score and overall credit history
Down Payment / Equity
Varies by loan purpose and program
Cash Reserves
May be required depending on program
Property Type
Primary, second home or eligible investment property
THE BROKER ADVANTAGE
One Application. Multiple Mortgage Programs.
Bank statement and alternative-income guidelines can vary significantly from one lender to another. Prime Choice Funding can compare available programs from multiple lending sources to help identify an option suited to your situation.
Different Income Methods
Programs may calculate eligible income differently.
Different Guidelines
Credit, reserves, loan amounts and property rules can vary.
More Options to Compare
We help evaluate available programs instead of relying on only one lending solution.
Self-Employed Mortgage FAQs
Answers to common questions from self-employed homebuyers and homeowners.
Explore More Self-Employed Mortgage Resources
12-Month vs. 24-Month Bank Statement Loans
How Bank Statement Income Is Calculated
Business Bank Statement Mortgage Loans
Bank Statement Loan Requirements
Bank Statement Cash-Out Refinance
Bank Statement Loans for 1099 Borrowers
Your Business Isn't Traditional. Your Mortgage Doesn't Have to Be Either.
Compare Bank Statement, 1099, P&L, asset-based, Non-QM and traditional mortgage options with Prime Choice Funding.