Mortgage Loans for Self-Employed Borrowers in Florida

Being self-employed does not prevent you from qualifying for a mortgage. The key is choosing the right loan program and documenting your income properly.

Opportunity Mortgage Group helps Florida business owners, independent contractors and other self-employed borrowers compare traditional and Non-QM mortgage options.

Mortgage Options for Self-Employed Borrowers

Depending on your financial profile, available options may include:

• Conventional loans
• FHA, VA or USDA loans
• Bank-statement loans
• 1099 income programs
• Profit-and-loss statement programs
• Asset-based mortgage programs
• DSCR loans for investment properties

Traditional mortgages generally use tax returns to calculate qualifying income. If business deductions reduce the income shown on your tax returns, a bank-statement or other Non-QM program may provide an alternative qualification method.

What Will the Lender Review?

Documentation requirements vary, but lenders may request:

• Personal or business tax returns
• Bank statements
• Year-to-date profit-and-loss statement
• Business license or registration
• Verification of business ownership
• Credit and debt information
• Funds for the down payment, closing and reserves

Lenders will also evaluate the stability and expected continuation of the business. Keeping personal and business accounts organized can make the review process easier.

Find the Right Mortgage Strategy

The best program is not always the one requiring the least documentation. OMG can compare conventional, government-backed and Non-QM options based on your income, credit, available assets and property goals.

Ready to explore your options?