Self-employed, 1099, real estate investors, business owners. If your tax returns don't tell the full story, one of these alternative qualification paths usually does. We use them every week to get borrowers approved who were told "no" elsewhere.
Click any program below to see how it works and who it fits.
Qualify using personal or business bank deposits instead of tax returns.
This is the most popular non-QM program for self-employed borrowers. Instead of using your AGI from tax returns (which is typically reduced by write-offs), we use your actual deposits to qualify. Most programs use 12 or 24 months of statements.
Designed for contractors and commission-based professionals.
If you receive 1099s instead of a W-2, this program qualifies you using gross 1099 income with a small expense factor instead of requiring two years of complex tax returns. Often a faster, cleaner path than bank statements.
Qualify based on rental property cash flow rather than personal income.
DSCR (Debt Service Coverage Ratio) loans qualify you on the property itself. We don't ask for tax returns or pay stubs. The rental income covers the mortgage, taxes, and insurance at a ratio you set. Perfect for investors scaling beyond conventional financing limits or buying through an LLC.
Plug in the rental income and expenses, see your DSCR ratio and which tier you fall into for pricing.
Programs typically require DSCR ≥ 1.0; better pricing at 1.20+. Some programs accept lower DSCR with stronger reserves or higher down. Final qualification depends on credit, reserves, and program-specific overlays.
Qualification based on financial reserves and assets.
Instead of using ongoing income, asset-based programs convert your liquid assets (savings, brokerage, retirement) into a qualifying monthly figure. Useful for retirees, business sellers, and clients with substantial reserves but limited current income.
Tap your home equity in as little as 5 days, with no first-mortgage refinance required.
This is one of the fastest products in the market. Need cash for renovation, debt consolidation, an investment property down payment, or business capital? You can keep your existing low-rate first mortgage untouched and access the equity in days, not weeks.
Finance the home and the renovation in a single loan.
FHA 203k Limited (up to ~$35K of work), FHA 203k Full (structural and major rehab), VA Alteration, and Conventional HomeStyle for primary, second, and investment use. Buy a home that needs work or refinance and roll renovation into the new loan.
Tell us how you earn and what you're trying to do. We'll pull 2-3 program options that match your situation and price them out so you can compare apples to apples.
Certified Mortgage Advisor and Branch Manager at PRMG Mortgage (NMLS #75243). 28 years in mortgage lending. Specializes in FHA, VA, conventional, DPA, jumbo, Non-QM, renovation, and construction financing for buyers and investors in Sacramento, New Jersey, and nationwide. PRMG is licensed in 49 states, excluding New York. Three-time Gold Award winner for Highly Reviewed Mortgage Team in Sacramento (2023, 2024, 2025). NMLS #225375.
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Sources consulted: HUD.gov, VA Home Loans, CalHFA, GSFA, NJHMFA, Freddie Mac DPA One, Down Payment Resource, NMLS Consumer Access.
All program references on this page are based on publicly available agency guidelines as of the last-reviewed date. Program availability and guidelines may change. PRMG must be approved for a program before originating it. Final eligibility depends on credit, income, assets, property, occupancy, and underwriting.