Mortgage Options for Self-Employed Borrowers in Texas
Self-employed borrowers can qualify for a mortgage, but the documentation review may differ from a standard W-2 income scenario. When tax returns do not fully reflect current business cash flow, Bank Statement, Asset Utilization, No Ratio, conventional, or other available approaches may be worth reviewing, depending on the borrower, property, lender and program. A scenario review helps identify which path may fit.
Loan Programs for Self-Employed Borrowers
Bank Statement Loans
Most PopularA review of 12–24 months of personal or business bank statements may be worth exploring when tax returns do not fully reflect current business cash flow. It may be worth reviewing for business owners whose documentation does not fit a standard mortgage review.
- 12 or 24 month bank statements
- Personal or business accounts
- Reviewed on bank statements or a CPA-prepared P&L
- Loans from $500K to $20M
- 20% or more down
Profit & Loss Loans
Use a CPA-prepared P&L statement to demonstrate your true income. Ideal for self-employed borrowers with complex financials who want to show business profitability.
- CPA-prepared P&L accepted
- 12 or 24 month P&L
- Reviewed on bank statements or a CPA-prepared P&L
- Ideal for complex financials
- Competitive rates
No Ratio Loans
Asset-Based ReviewA No Ratio review sets aside the personal income and debt-to-income calculation, not the rest of the file. Credit, assets, down payment, property type and loan purpose still apply.
- Debt-to-income ratio not calculated in the usual way
- Asset-based qualification
- Strong credit required
- 20%+ down payment
- Up to $4M
1099 Mortgage Loans
Designed specifically for 1099 contractors and freelancers. We use your 1099 income history to qualify you — without requiring full tax returns.
- 1099 income accepted
- 2 years 1099 history
- No full tax return required
- All 1099 income types
- Competitive rates
We Understand Self-Employed Income
If a traditional bank has declined you because of how you've structured your business finances, that's not a reflection of your ability to afford the home — it's a reflection of their inability to understand your financial profile.
Because we do more volume in the self-employed and non-QM space than most lenders, our lending partners offer us volume-discounted rates that we pass directly to our clients.
$20M
Max Loan Amount
20%
Minimum Down Payment
21-Day
Close Target
0
Tax Returns Required
Closing timelines vary by loan program, borrower documentation, property, appraisal, title, underwriting, lender, and other transaction conditions. A target is not a guarantee of closing within 21 days.
Frequently Asked Questions
Can I get a mortgage if I'm self-employed?
Yes. Leahy Lending specializes in mortgage financing for self-employed borrowers. We offer bank statement loans, P&L loans, and no-ratio loans that don't require traditional tax return documentation.
Do I need to provide tax returns?
No. Our bank statement loans, P&L loans, and no-ratio programs do not require tax returns. We use alternative documentation to verify your income and ability to repay.
What is the minimum down payment for a self-employed mortgage?
We require 20% or more down for our non-QM loan programs. This eliminates PMI and demonstrates financial strength to our lending partners.
How large of a loan can I get?
We specialize in residential loans from $500K to $5M, with specialty programs up to $20M for the right borrower profile.
How long does it take to close?
We target a close in as few as 21 days with our in-house processing and underwriting team. Complex files may take longer.
What states do you lend in?
We are currently licensed in 14 states including Texas, Florida, Colorado, Arizona, Georgia, Washington, Oregon, Idaho, Indiana, Kansas, Oklahoma, Arkansas, Alabama, and Alaska — with 30+ more states coming soon.
Ready to Explore Your Options?
Schedule a no-obligation consultation. We'll review your financial profile and identify the best self-employed mortgage solution for your situation.