Loans for Self Employed Borrowers

More often than not, self-employed individuals have a hard time obtaining financing due to their low Adjusted Gross Income on their personal 1040 Tax Return.

One of the most common questions we receive get is “How much do I have to make in order to qualify to buy a house?” Our Income Tax tool will easily answer that question instantaneously. As long as you report the minimum Adjusted Gross Income that the tool suggests, and your debt stays the same, you will be able to qualify for a Fannie Mae, Freddie Mac or Ginnie Mae backed loan and get a normal interest rate.

If you are unable to have that kind of Adjusted Gross Income on your tax return, then these Self Employed Mortgage Loans are designed for you.  These loans that are not fit to be sold in the secondary market and do not follow Freddie Mac, Fannie Mae or Ginnie Mae guidelines. Usual loan denials due to unable to verify income for self-employed individuals are no longer an issue. Below are some of our programs.

  • Bank Statement Program: Mortgage Loan Solution for Self-Employed Borrowers

No tax returns required
12-month personal bank statements
24-month business bank statements
Loans up to $3 million
Credit scores down to 600
Up to 90% LTV on Personal and Business with no MI
DTI up to 50% considered
Owner-occupied, 2nd homes and investment properties
2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
Non-warrantable condos considered
Jumbo loans down to 600 score
5/1 ARM or 30-year fixed
No pre-payment penalty for owner-occ and 2nd homes
Seller concessions to 6% (2% for investment)
2 year self-employed required

  • Asset Qualifier Program: Mortgage Solution for Cash-Rich Borrowers

No employment, no income, no DTI
Up to 75% LTV
5 Years seasoning foreclosure, short sale or bankruptcy
Loans up to $3 million (minimum loan $150,000)
Credit scores 700 or higher
Primary residence, purchase only
Interest only program available
5/1 ARM or 30-year fixed
Non-Warrantable condos considered
All assets must be sourced and seasoned for a minimum of 12 months
Required assets: Borrowers must have at least $500,000 in post-closing assets, recurring monthly debt multiplied by 60 months, funds to close and 6 months reserves

For more information please contact Bluecastle Lending at 954-866-0000 or