Top 3 Mortgages for Self-Employed
Being self-employed has its perks like freedom, flexibility, and control over your income. But when it comes to getting a mortgage, many business owners quickly discover that traditional lenders make the process harder than it should be.
At Breeze Funding, we've helped self-employed borrowers secure home loans since 2012, even when big banks said no. Here are the three best mortgage options that make qualifying simpler, faster, and more realistic for independent earners.
Table of Contents
1. Bank Statement Loans
Bank Statement Loans are one of the most popular options for self-employed borrowers today. Instead of relying on W-2s or tax returns, lenders use your personal or business bank statements to verify your income.
How it works:
- You provide 12 to 24 months of bank statements
- Lenders average your deposits to calculate qualifying income
- You can use business or personal accounts, depending on how you manage finances
Why it's great:
- No tax returns or pay stubs required
- Approvals based on real cash flow, not write-offs
- Available for primary, secondary, and investment properties
At Breeze Funding, we help review your statements and match you with the right lender so your actual income tells the story—not your deductions.
2. Profit & Loss (P&L) Statement Loans
For business owners with consistent operations, a P&L Statement Loan can be another easy-to-qualify option. These loans rely on an accountant-prepared profit and loss statement (often 12 or 24 months) to verify income.
Why it's great:
- Streamlined documentation—just your P&L and a few supporting statements
- Faster approvals than full-doc loans
- Works well for established businesses with stable revenue
If your tax returns don't reflect your true earning power, this loan type provides a simple, flexible alternative.
3. Asset Depletion Loans
Asset Depletion Loans (also called Asset Utilization Loans) use your savings, investment accounts, or retirement funds as the basis for qualifying income instead of your paycheck.
How it works:
- Lenders calculate a monthly "income" amount by dividing your total assets over a set period (often 60–120 months)
- You don't need to sell or move the assets—they simply demonstrate financial strength
Why it's great:
- Perfect for entrepreneurs, investors, or retirees with strong assets
- No income or employment verification needed
- Can be used for primary homes, second homes, or investment properties
This program is ideal if you've built wealth through business or investments and want to leverage that to qualify for a home loan.
Which loan is best for you?
Every self-employed borrower's story is unique. The right loan depends on:
- How you receive and manage income
- Your tax and business structure
- The type of property you're buying or refinancing (check out our investor loans for rental properties)
At Breeze Funding, we take the time to understand your financial picture and find the best loan program for your goals. Our team compares options side by side, so you know exactly what you qualify for and what it costs—with no surprises and no stress.
