Mortgages for self-employed and 1099 borrowers
If you work for yourself, your tax returns may show less income than you really earn. A broker can match your file to a lender whose rules read your income the way your business actually earns it.
Call any time. An automated assistant answers day and night, takes your details and books a callback with Stella.
Ways to show your income
- Two years of tax returns. The standard route for conventional, FHA and VA loans
- Bank statements. Programs that use 12 to 24 months of personal or business deposits instead of tax returns
- Profit and loss statement. Some programs accept a P&L prepared by your accountant
- 1099 income. Some programs work from your 1099 forms for independent contractors
Bank-statement and similar programs usually need a larger down payment and can cost more than a standard loan. Stella will tell you plainly whether the standard route works for you first.
What to have ready
- Your last two years of personal and business tax returns, if you have them
- Recent business and personal bank statements
- A year-to-date profit and loss statement
- Your business license or CPA letter, if you have one
Common questions
How long do I need to be self-employed?
Will my write-offs hurt my application?
Talk it through with Stella
Send her a short note or call (918) 395-9200. No credit check until you say so.
Programs are subject to eligibility, underwriting and lender guidelines; not all applicants will qualify. Nothing on this page is a commitment to lend or a rate quote. Raystar Mortgage Group Inc, NMLS 305952. Stella Courtney, NMLS 307689. Equal Housing Lender.