Review the conventional path first
Self-employment does not automatically require a Non-QM loan. We’ll begin by understanding how your business income is documented, your ownership, income history, existing obligations, and available funds. A standard loan may still be an option.
Understand the documentation alternatives
Some lenders offer bank statement programs that review 12 or 24 months of eligible personal or business deposits. Others offer programs for 1099 earners. The income calculation, expense treatment, business-history requirements, and supporting documents depend on the lender.
Compare cost and fit, not just qualification
An alternative documentation path can open a useful option, but rates, fees, required down payment, reserves, and loan features may differ from traditional financing. We’ll compare the choices available for your situation.
Prepare for the conversation
Tell me how you are paid, how long you have been in business, whether deposits enter personal or business accounts, and whether this is a purchase or refinance. Send financial documents through the secure application portal when requested.