Running your own business or freelancing full-time? Congrats — you’re living the dream...until you apply for a mortgage.
Suddenly, your impressive income doesn’t seem to matter.
Lenders question everything, demand endless paperwork, and make you jump through hoops your 9-to-5 friends never even see.
✅ Self-employed borrowers can absolutely get approved for a mortgage — without sacrificing their sanity.
✅ In fact, stated income loans are designed specifically to help.
This guide breaks down how it works — and how you can get to the closing table without a W-2 in sight.
Banks love predictability. When you’re self-employed, your income looks messy compared to a simple W-2 employee’s paycheck.
Even if you make six figures, your tax returns (full of deductions and write-offs) might show far less. That makes lenders nervous
Instead of forcing you to document every dollar of income the traditional way, stated income loans offer a flexible alternative:
It’s not "no proof" — it’s different proof.
Here’s what you’ll typically need:
✅ Credit Score: 680+ minimum, 700+ preferred
✅ Down Payment: 20–30%
✅ Cash Reserves: 6–12 months of mortgage payments
✅ Proof of Assets: Solid bank or investment accounts
Carlos owns a small but thriving graphic design studio. While his gross revenue was $180,000 last year, tax write-offs brought his taxable income down to just $40,000.
Banks laughed at his traditional loan applications — until Carlos found a stated income loan:
✅ Approved in 24 days
✅ Competitive rate
✅ No W-2s or full tax returns needed
Carlos is now living proof that being self-employed doesn’t have to mean being shut out.
Want to boost your approval odds even further?
🔹 Save More for Down Payment: Bigger down payment = lower risk for the lender = better rates.
🔹 Polish Your Credit: Pay down debts and correct any errors.
🔹 Show Healthy Bank Statements: Big deposits, minimal overdrafts.
🔹 Work with a Specialist Broker: Not all loan officers understand self-employed finances. (We do.)
Your self-employment journey shows independence, determination, and resilience — traits every great homeowner needs.
Yes, getting a mortgage is different.
Yes, it’s a little harder.
But with smart preparation and the right loan strategy, you can absolutely get approved and build your next chapter.
👉 If you have strong credit, healthy savings, and self-employment income, our team at Really Estate can help match you with lenders who understand your unique situation.
Select your home type today — and let’s turn your business success into homeownership success.