Buying · Self-employed
Being self-employed is not a credit problem.
It is a documentation problem, and it has known solutions. Alex has been originating loans for business owners, contractors and commission earners for 28+ years.
Why the usual answer is wrong
A conventional underwriter reads your tax returns and takes the bottom line. If you run a real business and your accountant is doing their job, that bottom line is deliberately small. Depreciation, equipment, vehicles, home office, retirement contributions: all legitimate, all working against you in that one specific calculation.
Lenders who only offer one product have to say no. That is a limitation of the product, not an assessment of you.
What actually gets looked at instead
- Business or personal bank statement deposits over a defined period
- Profit and loss documentation prepared to program standards
- Asset depletion, where substantial reserves can support qualifying
- Conventional documentation, when your returns do support the purchase
All financing is subject to credit approval, income and asset documentation, property appraisal and program guidelines. Not all applicants will qualify. Terms and availability are subject to change.
See which path fits your situation
Tell Alex roughly what you are after and he will set up a search that actually matches it.
Buying and financing, handled under one roof
Alex has originated residential mortgages for 28+ years alongside his real estate practice. If it is useful to you, the loan side can be handled by the same person who negotiates your contract. If you would rather use your own lender, that is completely fine.
Common questions
Do I need two years of tax returns?
For conventional financing, usually yes. But conventional is not the only path. Programs exist that qualify self-employed borrowers using business or personal bank statements instead of tax returns, and they are ordinary products, not last resorts.
My write-offs make my income look small. Is that disqualifying?
No. It is the single most common reason a well-qualified business owner gets told no by a lender who only knows one product. The write-offs are legitimate. The question is which documentation method reflects what your business actually produces.
How long do I need to have been self-employed?
Requirements vary by program, and there are situations where less history is workable, particularly when you moved from employment into the same line of work. It is worth asking rather than assuming.
Is the rate worse on these programs?
Pricing on alternative documentation programs generally differs from conventional financing, and the specifics depend on your credit, down payment and the property. Alex will show you real numbers for your situation rather than a range.
Get a straight answer on what you qualify for
Bring your real numbers. Alex will tell you which documentation path fits and what it would actually cost, before you start touring homes.