“I’m self-employed.”
Can I buy a house if I’m self-employed?
Often, yes. Some home loans can use your bank deposits, a profit and loss statement, 1099s or savings instead of tax returns. A tax return built to keep the bill low can make your income look small, so we pick the loan that tells the true story. These loans can cost more than a loan on tax returns, and we show you both when both are possible.
Quick answers
Write off everything?
The tax return says one thing. The deposits say another. We can use the deposits.
Paid on 1099?
Contractors, consultants, agents. Your 1099s can show what you make.
Buying a rental?
The rent itself can qualify the loan. No personal income paperwork.
Big savings, small paycheck?
Retired, sold a business, or living on what you built. What is saved can count.
Need to buy before you sell?
You may not have to sell first, even with a bank statement loan.
Does it fit you?
4 quick questions. No signup. No credit pull.
What you'll need
- Twelve or twenty-four months of business or personal bank statements
- Or your 1099s, or a profit and loss statement
- Or statements for your savings and investments
- A photo ID
What happens after I reach out?
What do you look at instead of my tax return?
It depends on how you get paid. Your loan officer picks the paperwork that tells the true story. It can be:
- Bank statements, business or personal. The deposits show what comes in.
- A profit and loss statement for your business.
- Your 1099s, if clients pay you as a contractor.
- Savings and investments, if what you’ve saved is the income.
Who does this work for?
People who run their own business, or get paid like they do. Salon and restaurant owners, contractors, consultants, shop owners, real estate agents and anyone paid on 1099.
If your accountant keeps your taxable income low, that’s normal. It just means a loan on tax returns may not see what you really make.
Why can these loans cost more?
They’re called non-QM loans. That means they sit outside the standard Qualified Mortgage rules, which is how they can use deposits or savings instead of tax returns.
They can cost more than a loan on tax returns. When both kinds could work for you, we show you both, side by side.
Questions people ask
Do I need two years of tax returns?
Not for every loan. Some loans use bank deposits, 1099s, a profit and loss statement or savings instead.
Does a bank statement loan cost more?
It can. These loans can cost more than a loan on tax returns. When both are possible, we show you both.
Can I use it for a second home or a rental?
Yes. Primary homes, second homes and rentals.
How long do I need to be self-employed?
As little as one year for some loans. Tell your loan officer when you started, and they’ll check which loans fit.
How many months of bank statements do I need?
Twelve or twenty-four months, business or personal, depending on the loan. Your loan officer tells you which before you send anything.
Can I use business bank statements?
Often, yes. Some loans use business statements and some use personal ones. Your loan officer tells you which to send.
How much do I need for a down payment?
Often the same as any other buyer. Your loan officer runs it with you and shows the payment with its rate and APR.
Does Home First Financial offer bank statement loans in California?
Yes. Home First Financial is a mortgage broker that arranges home loans for self-employed buyers across California, using bank statements, a profit and loss statement, 1099s or savings instead of tax returns. Subject to qualification.
Talk to a loan officer
Call or email a licensed loan officer.
The application takes about 15 minutes, on the secure site we use. Do what you can, and your loan officer calls to fill in the rest.
Prefer to meet in person? Our main office is in Tustin, by appointment.
The fine print
Non-QM financing. Non-QM means the loan sits outside the standard Qualified Mortgage rules. That is how it can use deposits, a profit and loss or savings instead of tax returns. Program terms vary and change. Loans on deposits, a profit and loss or savings can cost more than a loan on tax returns. Subject to borrower and property qualification. Not a commitment to lend.
Also called: a non-QM loan. That includes bank statement loans, P&L loans, 1099 loans and asset depletion loans.
Home First Financial is not affiliated with HUD, FHA, VA, USDA, CalHFA or any government agency.
Neutral sources: