Business Owners & Self-Employed
You built something of your own. Your mortgage should reflect it.
The puzzle other lenders skip
Too often, long-time business owners get pushed into higher-rate non-conforming loans just because they don't have W-2s, and many lenders won't take the time to work through tax returns. I love that puzzle. Multiple years of returns, multiple income streams: I dig in to establish your creditworthiness and work to get you into a conforming loan whenever possible, which can mean a lower rate than many non-conforming options.
Having worked as an underwriter myself, I know what questions are coming and how to prepare for them.
Stock · business owner at work · adults only
How I help
- Review your tax returns with you before you apply
- Explain how lenders look at self-employed income, write-offs and all
- Document multiple income streams clearly
- Talk through timing if your income has changed recently
- Get organized so underwriting goes smoothly
Documents commonly requested
- Personal federal tax returns with all schedules, usually the last two years
- Business tax returns, if your business files its own
- A year-to-date profit and loss statement
- Recent business and personal bank statements
- Proof your business is active (business license or CPA letter)
- A valid photo ID
Requirements vary by loan type and situation. I'll give you a checklist that fits yours.
If conforming isn't the right fit
- Specialty programs for self-employed borrowers
- Non-QM loans that may let you qualify on bank statements or assets
- Portfolio lending solutions
Article: How lenders read a self-employed borrower's tax returns relink to /post/self-employed-tax-returns once the Wix Blog post is live
Self-employed borrower FAQs
Can I get a conventional loan if I'm self-employed and don't have W-2s?
Often, yes. Self-employed borrowers can qualify for conventional (conforming) loans using tax returns and business documentation. Whether you qualify depends on your income history, credit and other factors. I review your returns with you to see whether a conforming loan is possible before looking at other options.
Why does a conforming loan matter?
Conforming loans follow standard guidelines and can offer lower rates than many non-conforming options. That's why I work to get business owners into a conforming loan whenever possible. Your actual rate depends on your full financial picture and market conditions.
How many years of tax returns will you need?
Usually the last two years of personal returns, plus business returns if your business files its own. Some situations call for more or fewer documents; I'll give you a checklist that fits yours.
I have several income streams and a lot of write-offs. Is that a problem?
Not necessarily. Write-offs can lower the income a lender is able to count, and multiple income streams take more work to document, but that's exactly the kind of file I like to dig into. We'll look at your returns together, including timing, before you apply.
What if a conforming loan isn't the right fit?
There are other options, including Non-QM loans that may let you qualify based on bank statements or the assets you own, and portfolio lending solutions. We'll compare them honestly so you can choose what's best for you.
Ready to get started with a Smarti solution?
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