Self-employed
home loans
If you own a business, write off aggressively, or live on savings rather than a paycheck, a standard income calculation can understate what you can comfortably afford. These programs qualify you a different way.
Is this the right
way to qualify?
These are still home loans for a house you will live in. What changes is how a lender measures your income. If most of these sound like you, it is worth a conversation.
- You are self-employed, a contractor, or paid on commission.
- Your tax returns understate what your business actually earns.
- You are retired and living on savings, investments, or distributions.
- Your income is real and steady but does not fit a W-2 box.
- A previous lender told you the numbers did not work.
Four routes,
one conversation
Bank statement programs
Instead of W-2s and tax returns, the lender reviews deposits into your business or personal accounts over a set period and uses those to establish income. It is the most common route for business owners whose returns are shaped by legitimate deductions.
Profit-and-loss programs
A profit-and-loss program qualifies from a prepared statement of your business income rather than personal tax returns. Requirements for who prepares the statement and what period it covers vary by lender, and MaryAnn will tell you what each one expects before you apply.
Asset-qualifier programs
For buyers with significant savings but limited monthly income on paper, an asset-qualifier program uses the assets themselves to support the loan. This is a frequent fit for retired Florida buyers and for people between ventures.
Asset depletion
Asset depletion converts a qualifying pool of assets into a calculated monthly income figure over a set term, which is then used the way employment income would be. The calculation differs by lender, so the same file can produce different answers in different places, which is exactly the sort of thing a broker is useful for.
These are consumer mortgage loans for a home you intend to occupy, available in Florida, where Ease Mortgage is licensed by the Florida Office of Financial Regulation. Program eligibility, documentation requirements, and terms are set by the lender and subject to review. Loan approval is not guaranteed.
Key parameters
The shape of these programs in plain terms. Exact numbers depend on the lender and the file.
How this comes together
Talk it through
A relaxed conversation about the house, the timeline, and how your income actually works. No paperwork required to start.
Pick the route
MaryAnn looks at your deposits, your statements, and your assets, and tells you which of the four routes gives you the strongest file.
Shop the market
Lenders calculate self-employed income differently, so the same file prices differently in different places. That spread is the whole point of using a broker.
Close on schedule
She coordinates lender, title, and agent, and tells you exactly what is needed at every step.
Do I need tax returns at all?
For these programs, generally no, and that is the point of them. The lender still needs documentation, but it takes the form of bank statements, a profit-and-loss statement, or asset records rather than returns.
How long do I need to have been self-employed?
Lenders set their own expectations, and a shorter history narrows the options rather than ending the conversation. Bring your situation to a first call and MaryAnn will tell you where it lands.
Is the rate higher than a conventional loan?
Terms and pricing on these programs generally differ from a standard agency loan. Whether the difference matters depends on the alternative, which is why MaryAnn shows you both side by side rather than quoting one number.
My accountant keeps my income low on paper. Is that a problem?
It is the exact situation these programs exist for. Writing off legitimately is good tax planning and it makes a standard income calculation look worse than your business does. Qualifying on deposits or assets measures something closer to reality.
I am retired. What are my options?
Asset-qualifier and asset-depletion programs can use your savings and investments to support the loan instead of employment income. This is a common fit for retired Florida buyers.
Can I use these for a rental property?
No. These are loans for a home you will occupy. If the property is an investment, a DSCR loan qualifies it on the rent it produces instead. See DSCR loans.
Bring your numbers.
Call or text MaryAnn directly, or schedule a time that works for you. A real advisor, no obligation.
Ready to apply? Start your application online (opens in a new tab)