Traditional mortgage lenders often rely on W-2 forms and consistent pay stubs to verify income, but self-employed individuals typically don't have these documents. Self-employed loans are designed to assess your financial health using alternative documentation. Whether you're a freelancer, small business owner, or entrepreneur, we understand the importance of flexible options that work for you.
Proof of Income: We look at your last two years of tax returns, including Schedule C or K-1 forms, along with recent bank statements to get a clear picture of your earnings.
Credit History: We consider credit scores as low as 550.
Assets and Reserves: Having savings or other liquid assets can boost your chances of approval and may help secure better terms.
Business Stability: Lenders prefer businesses that have been established for at least two years.
We are able to provide jumbo financing up to $5m.
Sustainable Income: A good rule of thumb is that your monthly housing expenses should not exceed 28% to 30% of your gross monthly income.
Consistent Income: Lenders usually require at least two years of consistent income from self-employment. They will look at your tax returns from the past two years, including any business-related schedules like Schedule C (Profit or Loss from Business) or K-1 (for partnerships or S corporations).