If you’re self-employed, you may face unique challenges when applying for a mortgage, but self-employed home loans are designed to help. These loans provide flexible options for entrepreneurs, freelancers, and independent contractors who may not meet the standard requirements for traditional loans.

Self-employed home loans, often referred to as non-QM (non-qualified mortgage) loans, cater to borrowers with variable income or alternative documentation needs. Unlike conventional loans, which rely heavily on tax returns, self-employed home loans consider alternative income verification methods, such as: Bank Statements, Profit and Loss Statements and Asset-Based Lending. Loans for investment properties can also be based entirely on the income the property can earn.

These loans will typically require higher credit standards and higher down payments, but provide an alternative to those who might not otherwise qualify.