Start with your home goals, then compare the income options
A successful business can produce several kinds of financial records. Your tax returns, statements, 1099 forms, and professionally prepared reports may each tell part of the story. I help you connect those records to an eligible mortgage, explain the calculation, and understand how the payment fits your spending plan.
Let’s make sense of the paperwork together.
Tax returns, bank statements and 1099s do not all document income the same way. I can explain how the applicable calculation works and help you compare the costs of eligible financing paths.
Amy DeBusk | Branch Manager & Mortgage Advisor
Amy DeBusk Home Loans, powered by loanDepot
Self-employment does not rule out conventional, FHA, or VA financing. Alternative-documentation options give us additional ways to review an application. We compare costs and qualification together rather than assume one loan fits every business owner.
Compare your self-employed mortgage options
Self-employed & alternative income options
Bank-Statement Loans
Use 12 or 24 months of eligible personal or business deposits to document self-employed income.
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Self-employed & alternative income options
1099 Income Loans
A one-year 1099 documentation option for eligible borrowers with a 24-month history of 1099 earnings.
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Self-employed & alternative income options
Asset Depletion Loans
Use eligible assets to calculate qualifying income, alone or alongside other documented income.
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Self-employed & alternative income options
One-Year Tax-Return Loans
An alternative-documentation mortgage using the most recent year of personal and business tax returns.
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Self-employed & alternative income options
Profit-and-Loss Statement Loans
A 12-month P&L prepared by an eligible CPA, enrolled agent, or CTEC preparer can support qualification.
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Self-employed & alternative income options
Asset Utilization Loans
A primary-home option using eligible assets and residual-income requirements instead of standard DTI.
Explore this loan →Tax returns are one useful starting point
I review the applicable tax-return calculation before assuming it cannot work. If the documented income supports your goal, traditional financing may be appropriate. If it does not, a different approved documentation approach may offer another possibility. Accurate reporting and advice from your tax professional remain part of good planning.
The one-year tax-return option is a specific alternative-documentation product for eligible self-employed borrowers. Its document period does not erase business-history requirements. I will confirm what applies to your situation.
Understand the difference between deposits and qualifying income
The bank-statement program offers 12- and 24-month documentation paths. Personal statements focus on eligible business deposits into your personal account; business statements require an approved treatment of expenses. Account transfers and borrowed funds do not become new earnings simply because they appear as deposits.
If you have a professionally prepared P&L or an established 1099 history, we can compare those options as well. Asset depletion may combine eligible asset-derived income with other qualifying income; asset utilization is a separate method that cannot combine income sources.
Prepare for a useful first conversation
Bring an outline of your business history and ownership, the records you already have, monthly debt payments, and a picture of funds available for closing. Tell me how you get paid and whether business funds will be used for the transaction. We can identify the right document path before you order additional professional reports.
We will also talk about the property. A primary home, second home, rental, condo, or home on land may have different eligibility requirements. For rental-property goals, explore DSCR financing separately. If you want to access home equity while retaining your first mortgage, the bank-statement HELOC uses a separate set of guidelines.
Keep learning at your own pace
Your complimentary bank-statement guide
Use the guide to prepare questions for our conversation. I will confirm current requirements for the loan we review together.
Download the GuideVisit the Self-Employed Resource Center for more articles, or explore the Bank Statement Loan Planning Tool for educational questions.
Your questions, answered
Do I have to use a bank-statement loan because I am self-employed?
No. I compare traditional documentation and alternative options based on your actual finances. The best next step is to review the income calculation, cash requirements, and payment together.
Can I use more than one income source?
Some options permit eligible income sources to be combined. FLEX bank-statement and asset depletion options allow this, while asset utilization does not. We need to select and apply the correct method without double-counting income.
How much down payment will I need?
It depends on the selected program, credit, loan size, property, and transaction. A P&L option has an 80% maximum loan-to-value cap; asset utilization has an 85% cap, with additional limits possible. I will explain the applicable figure and closing costs rather than quote one percentage for everyone.
Can you help me compare before I choose a house?
Yes. A complimentary discovery call helps us review goals and identify the documentation to gather. We can then work toward a supported financing range and review the property you are considering.
Let's make your next step clear.
Book your complimentary 30-minute discovery call. Tell me what you want your home financing to make possible, and I will help you compare the documentation options and prepare for the next step.