Self-Employed Loan Programs
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The right loan program is what turns a hard approval into an easy one. Self-employed borrowers have more options than most realize — bank statement loans, asset depletion loans, 1099 loans, profit-and-loss programs, and other non-QM structures all qualify you differently. These guides draw on 30+ years of mortgage lending experience to explain how each program actually works, who it fits best, and what lenders look for. Matching your situation to the right program is the single biggest lever on getting funded.
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Frequently Asked Questions
What is a bank statement loan?
A bank statement loan qualifies you on the deposits in your bank statements rather than your tax returns. The lender reviews 12 to 24 months of statements to gauge your real cash flow. It is the most popular non-QM program for self-employed borrowers whose write-offs make their tax returns look thin.
What is an asset depletion loan?
An asset depletion loan lets you qualify using your savings and investments instead of monthly income. The lender converts your eligible liquid assets into a qualifying income figure. It is ideal for retirees, business owners between ventures, and anyone who is asset-rich but shows low income on paper.
What is a non-QM loan?
Non-QM stands for non-qualified mortgage — a loan that does not follow the standard agency income rules. That flexibility is what makes it work for self-employed borrowers. Bank statement, asset depletion, 1099, and P&L loans are all non-QM programs that verify your ability to repay through alternative documentation rather than tax returns.
Can I get a mortgage with no tax returns?
Yes. No-tax-return programs are a core part of non-QM lending. Instead of tax returns, the lender qualifies you using bank deposits, 1099 forms, a profit-and-loss statement, or your assets. These options exist specifically because tax returns understate income for many self-employed borrowers.
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