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Mortgages for Self-Employed Borrowers

Mortgages for Self-Employed Borrowers

No tax returns required—qualify with CPA-prepared P&Ls, VOEs, or other flexible documentation.

Flexible Mortgage Options for Self-Employed Borrowers

At New Omni Bank, we understand that self-employed professionals often can’t rely on traditional income documentation — and that shouldn’t hold you back from homeownership. Whether you’re a business owner, independent contractor, or global entrepreneur, we offer flexible mortgage options that don’t require tax returns.

With CPA-prepared financials or other income documentation, you can qualify for one of our tailored self-employed mortgage programs — including both fixed-rate and adjustable-rate options.

Who This Mortgage Is For

Self-employed professionals and small business owners

Entrepreneurs with variable or seasonal income

Borrowers who prefer not to use tax returns for mortgage approval

Sole proprietors, LLC owners, or 1099 earners

Foreign nationals or non-permanent residents with legal U.S. entry and documentation

Homebuyers and investors in California markets including Los Angeles, Irvine, and the Bay Area

What You’ll Need

You’ll typically need the following:

A CPA-prepared profit and loss (P&L) statement
Other acceptable financial documentation for income verification
Business license or proof of self-employment
Business or personal bank statements (may be requested)

Eligible Loan Programs

Self-Employed Mortgage (Flexible ARM)

Self-employed buyers qualifying with flexible income documentation (e.g., CPA-prepared financials)
U.S. Citizen, Permanent Resident, Non-Permanent Resident (with SSN), Foreign National
680+ FICO
Primary, Investment

Self-Employed Mortgage (Fixed Rate)

Self-employed buyers seeking stable payments with CPA-prepared documentation
U.S. Citizen, Permanent Resident
660+ FICO
Primary, Investment

Why Borrowers Choose New Omni Bank

No tax returns required for qualifying
Custom solutions for self-employed and entrepreneurial clients
Flexible options for domestic and international buyers
Personalized service from multilingual Relationship Bankers, including English, Mandarin, and Cantonese
In-house underwriting and fast closings

Ready to take the next step toward your new home?

Talk to a mortgage specialist today to explore your best financing options.

New to Buying a Home in the U.S.?

Explore our step-by-step guide for international and first-time U.S. homebuyers.

Read Now

Frequently Asked Questions About Full Documentation Mortgages

1. What’s the difference between a fixed-rate mortgage and an ARM?

A fixed-rate mortgage offers consistent monthly payments over the life of the loan. An adjustable-rate mortgage (ARM) starts with a lower initial rate, which adjusts periodically based on the market. ARMs may work well for borrowers who expect growing income or plan to refinance before the rate changes.

2. What makes it harder for self-employed people to get a mortgage?

Unlike salaried employees with W-2s, self-employed borrowers often have fluctuating income and more complex tax filings. Lenders need alternative documentation to verify income stability, which can make the process feel more detailed.

3. How long do I need to be self-employed to qualify for a mortgage?

Most lenders prefer at least two years of self-employment history. Some programs may allow one year if you have strong documentation and previous experience in the same field.

4. What is a CPA-prepared profit and loss (P&L) statement?

A profit and loss statement summarizes your business’s income and expenses. When prepared by a Certified Public Accountant, it can serve as a trusted proof of income — especially helpful if you’re not using tax returns.

5. Can I qualify for a mortgage with personal bank statements?

Yes. Bank statement mortgages allow borrowers to qualify using 12–24 months of personal or business bank statements showing consistent deposits. This can be an alternative to tax returns for some borrowers.