Loan Options for Self-Employed Homebuyers

If you are self-employed or freelance, the mortgage application process may look different than it does for those with a traditional employer.

Waterstone Mortgage offers a variety of loan options for self-employed homebuyers.


bank statement program

With Waterstone Mortgage’s Bank Statement Program, homebuyers can purchase or refinance a home without providing tax returns and extensive documentation.

  • 12- or 24-month bank statement options available
  • As low as 10% down payment required,* call for details
  • FICO as low as 640
  • DTI up to 49.99% allowed
  • Fixed- and adjustable-rate mortgage (ARM) options available
  • Includes a 1099 income option
  • Available for loan amounts up to $3 million, call for details
  • Interest-only feature may be available for the first 10 years of the loan,** call for details 
  • Allowed on primary residence and second homes
  • Non-warrantable condos and condotels allowed, call for details

*Maximum financing may be limited in some declining markets — ask your loan originator for more information. **The interest-only feature allows homebuyers to make minimum interest payments for a set period of time. When the interest-only period end, the monthly payment is recalculated to include full principal and interest payments for the remaining loan term. With adjustable-rate mortgages (ARM), the interest rate is variable and may increase or decrease after the initial fixed rate period based on changes to an index. This could result in an increase in the monthly payment. Geographical variations may apply. Specific information about loan adjustment period available at application.