Self-employed? Your mortgage options, in plain English

Yes. You'll usually document your income differently than a salaried borrower, and lenders look at how steady your income is and how healthy your business is.

Many programs look for about two years of self-employment history. Some allow less if you've worked in the same field. Tell us your history and we'll check what applies.

Usually personal and business tax returns, a year-to-date profit and loss statement, business bank statements, and proof the business is active, such as a license or formation documents. Bank statement programs rely mostly on statements instead of tax returns.

Lenders generally qualify you on the income after write-offs that shows on your returns, though some expenses can be added back. If that still falls short, a bank statement loan looks at deposits instead. We'll compare both routes.

It's a non-QM loan that uses a year or two of business or personal bank statements to figure out your income, instead of tax returns. It often costs more than a conventional loan, so it fits best when write-offs lower the income your returns show.

Often, yes. 1099 income can be used with standard programs, through your tax returns, or with some non-QM programs that look at your 1099s directly.

Yes. Lenders usually count the income on your returns after write-offs. If you're planning to buy, ask your tax professional how your filing choices affect that income. We don't give tax advice.