For business owners and the self-employed
Self-employed doesn't mean unqualified.
Business owners, entrepreneurs and independent contractors may have mortgage options beyond traditional W-2 documentation. The right program depends on how your income is documented, not on how conventional it looks.
Your tax return is not the whole picture
Many self-employed borrowers write off legitimate business expenses that reduce the income shown on a tax return. That can make traditional qualification difficult even for borrowers with strong, consistent cash flow.
Certain mortgage programs are designed for exactly this situation. They may review other forms of documentation — bank statements, 1099s, profit-and-loss statements or qualifying assets — as part of the qualification process.
Potential documentation paths
Bank statement programs may use approximately 12 months of bank statements as documentation. 1099 programs may use eligible 1099 documentation. Profit-and-loss programs may consider eligible profit-and-loss documentation prepared for your business. Asset qualifier programs use qualifying assets as part of the income qualification process.
Which of these may be available depends on your circumstances and the program. Speak with Keon to determine available programs.
How Keon approaches it
Keon starts with how your business actually earns, then works backward to the programs whose documentation requirements fit. That order matters: it avoids wasted paperwork and gives you a clear view of the potential paths before you commit to anything.
Program availability, terms and qualification depend on individual circumstances and are subject to applicable underwriting and program requirements. Speak with Keon to determine which programs may be available to you.
Next step
Your financial situation is unique. Your mortgage strategy should be too.
Talk with Keon about what you're trying to accomplish and explore the mortgage options that may fit your situation.