Make your income understandable
Can I get a mortgage if I am self-employed or paid on a 1099?
Yes. Self-employment changes how income is documented and analyzed; it does not automatically rule out a mortgage. A conventional review considers whether income is stable, continuing, and available to you, using the documents appropriate to your business. Some borrowers may also have bank statement loan options, where eligible deposits help establish qualifying income under the program's rules. The right starting point is a review of how you earn, your ownership structure, and the records you can provide. Compare available documentation paths alongside rate, fees, down payment, and reserves. An alternative program is worth evaluating when it fits your situation, rather than assuming it is the first or only answer.
Talk through my optionsWhat to think through
- Revenue, taxable income, and mortgage qualifying income are different measures. Business expenses, ownership, distributions, and income trends can affect the analysis.
- Bank statement programs commonly review 12–24 months of statements. Documentation and deposit treatment depend on the particular program and account type.
- Alternative documentation may carry higher rates, points, or fees than other options. Compare the full terms before deciding which route serves you.
- Using business funds for a down payment can require additional cash-flow review. Keep enough working capital for the business that produces your income.
What to bring to a conversation
- Personal and business tax returns, when required for the documentation path being considered.
- Business and personal bank statements, with all pages and clear account ownership.
- Business ownership details and a current profit-and-loss statement if requested.
- An outline of income sources, existing debts, available down payment, and cash reserves.
Go to the source
Program details vary. Use these resources to explore the questions, then verify current requirements with your advisor.
Fannie Mae: Evaluating self-employed income CMG: Bank statement and self-employed optionsEducational information, not a loan offer or eligibility determination. No result is guaranteed.