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 20% down payment required
- FICO as low as 640
- DTI up to 49.99% allowed
- 30- or 40-year fixed-rate loan options available
- Available for loan amounts up to $3 million, call for details
- Includes a 1099 income option
- Allowed on primary residence and second homes
- Non-warrantable condos allowed, call for details
additional financing options
In addition to our Bank Statement Program, self-employed homebuyers may take advantage of other loan programs, tailored specifically to those with non-traditional income sources.
- Loan amounts up to $3 million
- Debt-to-income is not calculated
- As low as 700 FICO required
- Purchase and refinance loans available
- No employment or income documentation required — ask for details
- Available on primary residences and second homes
These loans aren’t exclusive to those who are self-employed or own a small business. Others may find these offerings beneficial, including:
- Retired individuals
- Buyers with volatile or irregular income
- Seasonal and gig workers
- Owners and employees of cash businesses
- Buyers who are newly self-employed
- Buyers with disqualified income
- Buyers with equity trapped in their home
