These loan programs are making it possible for self employed borrowers to Refinance or Purchase property in 2020. Different programs have been around for years now, but relatively few borrowers have had access to these programs because the vast majority of Banks don't offer these products.
They are Not the "Liar Loans" of 2005, back when borrowers were allowed to simply state their income without any supporting documents or verification. These days, on a Primary Residence or 2nd Home Residence financing, borrowers must show ...ATR (ability to repay) and lenders must prove the borrower has the ability to repay (i.e. positive cash flow) and how the lender arrived at the ATR.
However, this is where everything changes, when it comes to Investment / Rental property that is used for Business Purposes Only , lending guidelines become a lot more flexible. The 2020 No Doc Alt. Mortgage programs are really filling the void and are available up to the highest cLTV.