FAQ
Mortgage questions, answered directly.
Clear, specific answers to the questions business owners and 1099 contractors actually ask. No jargon, no hedging.
All questions
Can I get a mortgage if my business has a lot of write-offs?
Yes. Bank statement and P&L-only mortgage programs qualify self-employed borrowers on business deposits or CPA-prepared income — not the depressed Schedule C net that write-offs produce. Your tax strategy should not determine whether you can buy a home.
Read the full answerCan self-employed borrowers get a mortgage?
Yes. Self-employed borrowers qualify for mortgages through bank statement programs (income from deposits), P&L-only programs (income from a CPA-prepared statement), and 1099 programs (gross contract income). Tax-return income is not required for any of these programs.
Read the full answerHow do bank statement loans calculate qualifying income?
Bank statement loans calculate qualifying income as: average monthly business deposits × (1 − expense factor). The standard expense factor is 50% — no CPA letter needed. If your actual expenses are lower, a CPA letter overrides the default and raises qualifying income.
Read the full answerHow is DSCR calculated and what ratio do I need?
DSCR = monthly gross rent ÷ PITIA (principal + interest + taxes + insurance + HOA). Most programs require DSCR ≥ 1.00, meaning rent covers the full payment. Programs with the best rates and LTV tiers require ≥ 1.25. Personal income is not used for DSCR qualification.
Read the full answerCan I get a mortgage as a 1099 independent contractor?
Yes. The 1099 mortgage program qualifies independent contractors on gross 1099 income averaged over 24 months — no Schedule C reduction, no W-2 required. Two years of 1099 forms are the primary income document.
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Sunrise Lending · Equal Housing Opportunity. Matching rules are written and reviewed by licensed mortgage professionals. All loan decisions are made by licensed mortgage professionals. Not a commitment to lend. Loan approval subject to underwriting guidelines. This is not financial advice.