Conventional financing
Tax returns and business records can support a standard income review. Start here when the documented income fits your goal.
Explore conventional
Alabama business owners · Independent contractors
Self-employed mortgage loans in Alabama
You built your business. Let’s build a mortgage plan around your financial picture—not just a paycheck.
Different ways to earn. More than one path to qualify.
First Equity helps Alabama self-employed borrowers compare traditional income documentation with eligible bank statement, 1099, and asset depletion options. A conventional loan may still be the right fit. Alternative documentation changes how your finances are evaluated; it does not remove the ability-to-repay review.
Bank Statement Loans
For self-employed borrowers whose tax returns may not reflect their cash flow. Eligible personal or business bank statements can help document income under the selected program.
Explore this option1099 Income Loans
For independent contractors and other 1099 earners. Explore a qualification method that considers eligible 1099 income and supporting records, with program-specific expense treatment.
Explore this optionAsset Depletion Loans
For borrowers with substantial eligible savings or investments. An approved calculation may convert qualifying assets into an income figure, rather than relying only on a paycheck.
Explore this optionIncome and assets working together
Business income, contract earnings, and substantial eligible assets may tell a more complete story together. Ask about a combined-documentation review rather than assuming you must fit a single category. Any combination depends on current program rules, with no double-counting of income or assets.
What our team compares
- Income stability, business ownership, and eligible documentation
- Available assets, cash to close, and required reserves
- Total costs, repayment terms, and the property’s intended use
- Purchase or refinance goals and your timing
Self-employed mortgage questions
Can I get a mortgage if I’m self-employed?
Yes, self-employment does not automatically prevent mortgage qualification. Your income history, ability to repay, credit, assets, property, and selected program all need review. Conventional financing may fit; alternative documentation may offer another path.
Do I have to use a bank statement loan?
No. We compare conventional financing using tax returns and business records with eligible alternative-documentation options. The strongest choice depends on your complete financial picture and costs, not your job title.
Can bank statements and assets be used together?
Some programs may allow eligible income and assets to be considered together. The selected program must permit the combination, and the same funds cannot be counted twice. Our team confirms the calculation, reserves, and documentation before recommending a structure.
Do business deposits all count as income?
No. Transfers, borrowed funds, and other non-income deposits may be excluded. Business expenses, ownership, and the consistency of eligible cash flow must be evaluated under the selected program.
What should I prepare for a self-employed mortgage review?
Begin with your business type, ownership, income sources, property goal, and available funds. Your loan officer will identify the tax returns, business records, statements, 1099s, or asset documentation needed. Do not send account numbers or sensitive documents in chat.
Start with your situation, not a program name.
Tell us how you earn and what you’re planning. A licensed First Equity loan officer confirms documentation, eligibility, and current terms. No loan approval is implied.
Start my self-employed mortgage review