Edited and reviewed by CEO Vatche Saatdjian — 30+ years of experience — Expert on self-employed mortgages

1099 & SELF-EMPLOYED

Self-employed? You can still get a mortgage

Nevada 1099 contractors, business owners, and freelancers qualify for home loans. Bank statement loans, alternative documentation, and FHA options work when traditional W-2 employment isn't your situation.

Bank Statements
1099 Friendly
FHA Options

Three ways self-employed qualify

Traditional FHA: 2 years tax returns (averaged income)
Bank statement loans: 12-24 months deposits (no tax returns)
P&L statement: Profit/loss + CPA letter

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Nevada 1099 contractors approved daily • Multiple documentation options • NMLS #65506

Flexible documentation
3 Options
For self-employed Nevada buyers

Self-Employed Loan Options

Bank Statement Loans

Qualify using 12-24 months of business or personal bank statements instead of tax returns

  • • No tax returns needed
  • • 10-20% down payment
  • • 640+ credit score
  • • Calculate income from deposits

Profit & Loss Statements

Use year-to-date P&L statements prepared by your CPA for income verification

  • • CPA-prepared P&L required
  • • 2 years self-employment history
  • • Standard down payment options
  • • Conventional or FHA eligible

1099 Income Documentation

Qualify using 1099 forms showing consistent contractor income over 2 years

  • • 2 years of 1099s required
  • • Stable or increasing income
  • • Tax returns may be needed
  • • FHA, VA, Conventional eligible

How to Qualify as Self-Employed

Income Documentation Requirements

Traditional Documentation (Conventional/FHA/VA):

  • 2 years personal tax returns (1040s)
  • 2 years business tax returns (1065, 1120, Schedule C)
  • Year-to-date profit & loss statement
  • CPA letter confirming self-employment continuance

Bank Statement Programs:

  • 12 or 24 months of business bank statements
  • Personal bank statements (if using personal account)
  • License or proof of business operation
  • No tax returns required

What Helps Qualification

  • • 2+ years in same industry
  • • Stable or increasing income
  • • Strong credit score (680+)
  • • Low debt-to-income ratio
  • • Larger down payment (20%+)
  • • Cash reserves (6+ months)

Common Challenges

  • • Write-offs lower qualifying income
  • • Inconsistent income year-over-year
  • • Less than 2 years self-employed
  • • Mixing business types/industries
  • • High DTI from business debts
  • • Insufficient documentation

Nevada Self-Employment Income Calculation

For traditional mortgages, lenders calculate self-employed income by averaging the last 2 years of net income (after business expenses) from tax returns. Depreciation and one-time write-offs may be added back.

Example:

Year 1 net income: $85,000 | Year 2 net income: $95,000

Qualifying income: ($85,000 + $95,000) ÷ 2 = $90,000/year

Self-Employed Mortgage FAQs

Get Pre-Approved as a Self-Employed Buyer

Work with Nevada mortgage experts who specialize in self-employed financing

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