As a self-employed individual, you've worked hard to build your business, but traditional lenders often overlook your true earning potential due to tax write-offs. You're not alone in feeling frustrated by mortgage options that don't account for your financial reality. At National Mortgage Home Loans, we understand your situation and offer mortgage solutions that look beyond tax returns.
”At NMHL, we work with borrowers in exactly this situation every day. We understand the uncertainty, the frustration, and the worry that comes with navigating a mortgage during a significant life event. You are not alone, and your situation does not have to be a barrier to homeownership.
Our licensed loan officers specialize in finding the right path forward for borrowers in complex circumstances. Whether your situation requires specialized documentation, alternative qualification methods, or simply a lender who takes the time to understand your full financial picture, we are here to help you move forward with confidence and clarity.
Your Path Forward
Proven Solutions for Your Situation
Bank Statement Mortgage
Qualify for a mortgage using 12-24 months of bank statements, reflecting your actual business income. This program is ideal for self-employed borrowers with significant cash flow but limited taxable income.
Asset-Based Loan Program
Leverage your assets to secure a mortgage, even if your tax returns don't show your true income. We consider savings, investments, and retirement accounts to determine your qualification.
Profit and Loss Statement Loan
Use a CPA-prepared profit and loss statement to demonstrate your business income, providing a more accurate picture of your financial situation.
Personalized Guidance for Your Situation
No two mortgage journeys are alike. Our experienced advisors take the time to understand your unique circumstances and find the best path forward.
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Understanding Self-Employed Mortgage Challenges
As a self-employed individual, you're likely familiar with the challenges of qualifying for a mortgage. Traditional lenders often rely heavily on tax returns, which may not accurately reflect your current income due to business deductions and write-offs. At National Mortgage Home Loans, we understand these challenges and offer alternative mortgage solutions tailored to your unique financial situation.
Our mortgage programs are designed to consider the full picture of your financial strength, not just your tax returns. Whether you're a business owner, freelancer, or independent contractor, we have options that can help you achieve your homeownership goals.
Don't let tax write-offs hold you back from qualifying for the mortgage you deserve.
Bank Statement Loan: A Viable Alternative
Our Bank Statement Loan program allows you to qualify for a mortgage using 12-24 months of bank statements. This approach gives lenders a clearer picture of your actual income, rather than relying solely on tax returns. You can use either personal or business bank statements, making it a flexible option for various self-employed situations.
- Qualify based on actual cash flow
- No tax returns required
- Personal or business accounts accepted
Get pre-approved today with NMHL's simple online application.
Asset-Based Loans for Financial Flexibility
If you have significant assets in savings, investments, or retirement accounts, our Asset-Based Loan program can help you qualify for a mortgage. This program considers your total qualifying assets divided by the loan term to determine your monthly income, providing an alternative to traditional income qualification methods.
This option is particularly beneficial for those with substantial assets but irregular income streams. It's also a good choice for retirees or those nearing retirement who want to leverage their assets for home financing.
Explore how your assets can work for you in the mortgage qualification process.
Getting Started with NMHL
At National Mortgage Home Loans, we're committed to helping self-employed borrowers navigate the mortgage process with ease. Our experienced loan officers will guide you through the available programs, required documentation, and next steps to achieve your homeownership goals.
Start your journey today by getting pre-approved online or by contacting one of our knowledgeable loan officers. We're here to help you every step of the way.
Take the first step towards your dream home with NMHL's pre-approval process.
Frequently Asked Questions
Yes, our Bank Statement Loan and Asset-Based Loan programs allow self-employed borrowers to qualify based on alternative documentation. For bank statement loans, we typically require 12-24 months of statements. For asset-based loans, we consider your total qualifying assets divided by the loan term to determine monthly income.
We analyze your average monthly deposits over the statement period to determine your qualifying income. This includes regular business or personal deposits from your work activity, while excluding one-time transfers and loan proceeds.
Rates for bank statement loans are typically 0.5% to 1.5% higher than conventional loans. However, the ability to qualify based on actual cash flow often means you can qualify for a larger loan amount, which can offset the rate difference. Our loan officers can help you understand the total cost and benefits.
Yes, our Profit and Loss Statement Loan program accepts CPA-prepared P&L statements as primary income documentation. This is particularly helpful for business owners with strong revenue but significant tax write-offs. The P&L must reflect your current financial situation and business income.
Our pre-approval process typically takes 7-10 business days. We require basic financial information and documentation, such as bank statements or P&L statements, depending on the program you're applying for. Our loan officers will guide you through the required documents and timeline.