Self-employed borrowers can qualify using tax returns or, with some programs, bank statements that show real cash flow.
Qualify using 12 or 24 months of personal or business bank deposits instead of tax returns.
Write-offs can lower taxable income; alternative documentation looks at what actually comes in.
Sole proprietors, LLC and S-corp owners, freelancers, gig workers and 1099 contractors.
If your tax returns show strong income, conventional and FHA loans remain available.
Use self-employed options to buy a home, refinance or take cash out.
We review your paperwork early so there are no surprises during underwriting.
Requirements vary by program, but most borrowers need:
About Two Years of Self-Employment – Some programs accept less with prior experience in the same field.
Proof of Income – Tax returns, profit-and-loss statements or 12 to 24 months of bank statements.
A Credit Score of 620 or Higher – Some alternative-documentation programs look for higher scores.
A Down Payment – Often 10% or more for bank statement loans; less for conventional or FHA.
Cash Reserves – Some programs require several months of payments in savings.
Answer a few quick questions about your plans, and a Woodcrest loan officer will reach out with options tailored to this loan program.
Get quick answers to the most common questions homebuyers ask. Our FAQ section is designed to help you understand the mortgage process, explore your options, and feel confident every step of the way.
Yes. Bank statement programs let you qualify on deposits rather than taxable income, which helps if you take significant write-offs.
Two years is typical. Some lenders accept one year if you worked in the same field before going out on your own.
Conventional and FHA rates are the same for anyone who qualifies. Alternative-documentation loans often carry somewhat higher rates.
Recent tax returns, a year-to-date profit-and-loss statement, a business license or CPA letter, and bank statements.
