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Alternative Income Documentation Options

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Are you self employed and don’t show enough income on your tax returns?  We have options if you need a loan, but don’t show enough income on your tax returns to qualify.  Bank statements, profit and loss statements, and even liquid assets can be used instead to qualify for your next loan.

Please contact us to discuss what documentation you have available, and we can help determine which qualification method is right for you.

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Bank Statements
  • Qualify with 12-24 months of business or personal bank statements showing sufficient deposits
  • Business must be active for a minimum of 2 years, even if only using 12 months of statements to prove income
  • Must be self employed, and own at least 25% of the business
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Profit & Loss Statement (CPA or EA Prepared)
  • Must own at least 50% of the business
  • Profit and loss statement must be prepared by a licensed 3rd party (CPA or EA) who attests that they also prepared your most recent tax return
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1099 Only
  • Ideal for 100% commission or independent contractors
  • Year to date earnings must be consistent with 1099 income, and ongoing receipt of stable income must be documented through bank statements
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Asset Utilization
  • May be used as the sole source of income, or to supplement other sources of income
  • Assets must be liquid and available without penalty
Short Term Rental Income
  • Our alternative documentation programs also allow short term rental income from platforms like Airbnb to be used for qualifying on investment properties
  • Must be able to document a 12 month history of short term rental income
  • Purchases are ineligible to use short term rental income estimates