Can A Self Employed Person Get A Home Loan?

Real Estate Agent BK3063004

Can a self employed person who doesn't have paystubs get a loan to buy a house? I have heard this question numerous times. I am not a mortgage broker and I don't pretend to know all about the nuiances of getting a loan. I know quite a bit, but I prefer to stick to the real estate and let the money guys stick to the money. But to help you out, I went to a couple of sources.

I posed this question to a couple of mortgage brokers in the Central Florida area: If a person is self employed and don't have pay stubs to show, can they still get financed?

Good news for those of you who are self employed. The answer is yes. Yes, you can get approved for a loan as a self employed person who doesn't have pay stubs to submit. You just need to submit some additional information. Here are the highlights of the conversations I had with the two mortgage brokers:

- Based off of two years of tax returns (full personal and business). One mortgage broker said you have to be self employed for 2 years, the other didn't mention how long. One mortgage broker said you only have to turn in business returns if you own 25% or more interest in a business.

- If W2's and 1099's are part of a persons income, they must submit those as well.

- If a business tax return is not yet available for the most recent year, then a profit and loss statement must be submitted.

Simple enough, right? If you are ready to start looking for a home in the Lake County Florida or West Orange County Florida area, let me know. I would love to help you out!


Posted by


Johnny Davis

Florida Realty Investments

Broker Associate

1064 West HWY 50, Suite 216

Clermont, Fl. 34711

321-231-4141 Cell




Comments (4)

Jenna Dixon
Momentum Real Estate Group LLC - Marietta, GA
55 & Over | New Constructions | Horse Farms

People who are self employed need to plan well in advance if they want to buy a home.  They often run into a problem because of the write offs, their adjusted gross income may be insufficient when calculated out over a 12 month period.  Finding a great loan officer who is familiar with the process for someone who is self employed can make all the difference in the world!

Mar 02, 2015 12:48 AM
Johnny Davis
Ocala, FL
Where SOLD Happens!

Jenna- Great comment. I 100% agree!!

Mar 02, 2015 12:50 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Johnny - Self-employed people can secure financing, but it is not easy. Jenna Dixon made some great points about qualifying and preparing in advance. Also, there may be additional requirements, such as how much of a down payment they are required to make, and more than likely the interest rate on the loan will be higher than someone who can provide a W-2 and pay stubs.

Mar 02, 2015 01:54 AM
Johnny Davis
Ocala, FL
Where SOLD Happens!

Troy Erickson - Yeah, I've heard the down payment could be a little higher. The best thing a self employed person can do is contact their local mortgage lender and talk it out. Now that they know it is possible, time for them to move forward!

Mar 02, 2015 02:43 AM