Home Loans Designed for Self-Employed Professionals
Why Choose Our Self-Employed Home Loans?
No Tax Returns or W-2's Required
Qualify based on your gross business revenue – perfect for the Self-Employed borrower who maximize tax write-offs.
Higher Qualifying Income
We analyze your actual cash flow, not just your taxable income, helping you qualify for a higher loan amount.
Lower Down Payment
Just 10% down payment required, significantly less than what most banks require from self-employed borrowers.
Top Self-Employed Mortgage Lender
Barrett Financial Group | NMLS #239185
Top Rated Self-Employed Mortgage Lender
Self-Employed & 1099 Bank Statement Loans
Same Day Approval & Fast Close
Competitive Rates From 50+ Lenders
Loan Amounts $200,000 to $6,000,000
620 Minimum Score Requirements
Frequently Asked Questions
Is it harder to get approved for a mortgage when I'm self-employed?
Not with our specialized programs! While traditional lenders often make the process unnecessarily difficult for self-employed borrowers, our mortgage solutions are specifically designed for business owners, entrepreneurs, and 1099 / independent contractors. We understand how self-employment works and have created streamlined approval processes that account for the unique financial situations of self-employed professionals. We will help you understand and choose from the various income qualifying options such as bank statement loans, 1099 forms, Profit and Loss statement & the CPA letter. If that still doesn’t work, we are a select lender offering true no income & no employment loans.
What credit score do I need as a self-employed borrower?
We offer our most competitive rates and terms to self-employed borrowers with credit scores of 700 or higher. This credit tier unlocks our premium financing options with the lowest rates and most flexible terms. However, we understand that entrepreneurs sometimes face credit challenges while building their businesses. If your score is below 700, we still have options available with slightly adjusted terms down to 620. Our goal is to find a solution that works for your unique situation, and we can also provide guidance on quickly improving your score if needed.
What down payment is required for self-employed borrowers?
For well-qualified borrowers with credit scores of 700+, we offer down payment options as low as 10%. This is significantly lower than many other lenders offering bank statement programs, who typically require 20-25% down. Our competitive 10% down payment option helps you preserve capital for your business while still accessing favorable mortgage terms. If your credit score is between 660-700, we offer options with 15-20% down payments and credit scores 620-659 we have options with higher down payment requirements. These flexible options ensure that self-employed borrowers can find a solution that balances their homeownership goals with their business capital needs.
How long does the approval process take for self-employed borrowers?
Unlike traditional lenders that can keep self-employed applicants waiting for weeks, Our streamlined process typically takes less than 30 days from application to closing. If you already have an appraisal in hand, we can often close in 15 days or less which is substantially faster than our competitors. We typically can provide a formal pre-approval in 24 hours or less once we receive your application and a short list of documents. Our specialized underwriting team is experienced with self-employed documentation and knows exactly what to look for, eliminating unnecessary delays. This efficiency gives you a competitive edge in the housing market, allowing you to make confident offers with fast closing timelines. Sellers often prefer working with buyers who have our pre-approvals because of our reputation for on-time closings.
What documentation will I need to provide?
The documentation process is refreshingly simple compared to traditional loans. Typically, we require: 1) 12-24 months of personal or business bank statements, 2) Proof of self-employment for at least 2 years (LLC Filing, business license, letter from CPA, etc.), 3) Standard mortgage documentation (ID, proof of assets, etc.), and 4) A brief explanation of your business model. You won't need to provide tax returns, profit and loss statements, or year-to-date income statements that are typically required with conventional loans. This streamlined approach eliminates the excessive paperwork that makes traditional mortgages so cumbersome for self-employed borrowers.
Can I qualify with non-traditional income sources?
Absolutely! We understand that self-employed income often comes from multiple sources and can fluctuate. Our underwriters are trained to evaluate diverse income streams including contract work, 1099 income, seasonal business revenues, rental income, and even properly documented cash flow from business operations. If you have at least two years of history with your income sources, we can typically find ways to use that income for qualification. We also consider business equity, retained earnings, and other assets in our holistic evaluation process, rather than simply looking at W-2 equivalent income like traditional lenders do.
Stop Letting Tax Write-Offs Limit Your Home Buying Power
As a business owner, you shouldn't be penalized for legal tax strategies. Our Self Employed Mortgage Programs look at your real cash flow, not just your taxable income.
Licensing:
John Peisner | NMLS #239185 | nonqmmortgagebrokers.com powered by Barrett Financial Group, L.L.C. | NMLS #181106 | 8485 W Sunset Rd Suite 202, Las Vegas, NV 89113| AZ 0904774 | CA 60DBO-46052 & 41DBO-148702 Licensed by Dept. of Financial Protection & Innovation under the California Residential Mortgage Lending Act. Loans made or arranged pursuant to a California Financing Law License | CT ML-181106 | FL MLD1880 | GA 181106 | HI 181106 | ID 2080181106 | IL MB.6761630 view reinvestment notice barrettfinancial.com/illinois-reinvestment
| MN MN-MO-181106 | NV 5091 | NJ | NC B-203722 | OR | PA 92105 | TN 204577 | TX view complaint policy at barrettfinancial.com/texas-complaint | VA MC-7357 & MC-7357 | WI 181106BA & 181106BR | Equal Housing Opportunity | This is not a commitment to lend. All loans are subject to credit approval. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106 barrettfinancial.com |
Barrett Financial Group, L.L.C is a NMLS Licensed, independent mortgage company that provides mortgages for borrowers. Barrett Financial Group is not affiliated with any Govenment agency. All terms subject to credit approval and this is not a commitment to lend. Not all applicants will qualify.
