Updated November 2026.
If you’re self-employed, your tax returns may show far less income than your business actually brings in, because of legitimate write-offs. That’s good for taxes, but it can make a traditional mortgage hard to qualify for. Florida has a large share of business owners, contractors and commission earners, and several mortgage programs are built for exactly this situation.
These are Non-QM (non-qualified mortgage) programs: they follow each lender’s own guidelines rather than Fannie Mae, Freddie Mac or government rules. They usually need a larger down payment and reserves, and they’re priced above conventional loans, but they can qualify you on income that tax returns don’t show.
1. Bank statement loans
The lender reviews 12 or 24 months of personal or business bank statements and uses your deposits, minus an expense factor, as income. A good fit when your deposits are steady and strong. Bank statement loans
2. 1099 loans
For independent contractors and commission earners. The lender uses your 1099 forms (usually from the past one or two years) and applies an expense factor instead of using your write-offs. Often the simplest option if your 1099s are clean. 1099 and P&L loans
3. P&L loans
Business owners qualify with a profit-and-loss statement prepared or signed by a CPA, enrolled agent or licensed tax preparer, sometimes with a few months of bank statements. Useful when your books are well organized.
4. Asset depletion loans
If you have substantial savings or investments, a lender can convert eligible assets into a qualifying monthly income. Common for business owners who recently sold a company, and for early retirees. Asset depletion loans
Buying a rental instead?
For investment properties, a DSCR loan qualifies you on the property’s rent rather than your personal income at all.
How to prepare
- Keep business and personal accounts separate, and avoid large unexplained deposits.
- Have at least two years in the same line of work if you can.
- Gather recent statements for every account you’ll use for the down payment and reserves.
- Ask your CPA whether a P&L would show your income more accurately than your returns.
Not sure which fits? Alex compares the options side by side so you can see which one qualifies you for the most with the best terms.
Next steps
Run your own numbers with the Income Qualification Calculator, then book a free 30-minute call or request your pre-approval. Alex will compare options across 300+ wholesale lenders through NEXA Mortgage and walk you through what fits.
Not a commitment to lend. Not all applicants qualify. Programs, rates, terms and availability may change without notice. All loans are subject to credit, income, asset and property approval. Non-QM loans are not agency or government loans and may have different rates, terms and requirements. H. Alex El-Ali, NMLS #1513750, FL LO125697 | NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Lender.
