Programs to ask about
- Bank statement loans
- Profit-and-loss (P&L) programs
- Asset-based qualifying
- Traditional programs using tax returns, when they work in your favor
Get organized early
- 12 to 24 months of business and personal bank statements
- A current profit-and-loss statement
- A business license or other proof of self-employment
- Recent tax returns, if available
Know the tradeoffs
Alternative documentation programs can have different rates, down payments, or reserve requirements. I'll lay out the options side by side so you can decide with clear eyes.
The bottom line
Being your own boss shouldn't keep you from owning a home. The right program makes the difference.
This is general information, not financial advice or a commitment to lend. All loans are subject to credit approval, and programs vary by lender and eligibility.