Self-Employed · Spear Program

Buy the house your tax return says you can't.

Bank statements only. No W-2s. No tax returns. We compare 40+ Non-QM lenders side-by-side and send your real options inside 24 hours — APR, payment, and cash to close. Built for the self-employed Floridian who's tired of being told 'no' by banks that don't understand 1099 income.

12 / 24-month bank statement programs — personal or business
1099-only qualifying — no expense schedule needed
P&L-only — for newer self-employed (with CPA letter)
As low as 10% down with strong credit and reserves
No prepayment penalty on most programs
Cash-out refinance to 80% LTV available

Get my comparison (407) 201-4403

NMLS# 2718409Equal Housing Opportunity

Best fit when

You are the borrower these programs were built for.

Conventional underwriting reads tax returns as your income. If you write off aggressively (you should), the bank thinks you make less than you do. That's not a credit problem. That's a wrong-program problem.

Self-employed 2+ years

1099 contractors, LLC owners, S-Corp shareholders, sole proprietors. Your deposits, not your write-offs, qualify the loan.

Self-employed 1 year

P&L-only programs with a CPA letter make you eligible at year one — instead of waiting two more years for tax history.

Strong cash flow, low taxable income

Real-estate investors, e-commerce, cash-business owners. Bank deposits are the income story.

Variable / commission income

Realtors, sales pros, gig-economy. 1099-only programs use gross 1099s, not net Schedule C.

Co-borrower with W-2 spouse

Combine bank-statement income + W-2 spouse for the highest qualifying income on a single file.

Refi out of a hard-money loan

Bridge into a long-term Non-QM mortgage at 30 years fixed. Stop the 11% interest bleed.

Dr. Rate lab note

Deposits tell the story your tax return hides.

Dr. Rate's job here is simple: compare the deposit math against the payment math before a lender turns your write-offs into a denial.

Run the calculators

Program details

What the lenders actually require.

Income docs

12 or 24 months of personal or business bank statements OR 1099s only OR a CPA-prepared P&L. No tax returns required.

Credit score

Most programs start at 660. Best pricing at 720+. We have lenders to 620 on strong files.

Down payment

10% – 25% depending on credit, reserves, and program. 20% is the most common.

Loan amount

$150K – $3M+. Jumbo Non-QM programs available.

Property types

Primary, second home, and investment. Single family, condo, 2–4 unit.

Reserves

Typically 3 – 12 months PITIA depending on the program.

Timeline

Pre-approval in 24 hours. Funding in 21 – 30 days on a clean file.

Real scenario

Real scenario — Orlando self-employed buyer.

Realtor with 24 months of personal bank statements averaging $14,800/mo in deposits. Looking at a $485,000 single-family in Lake Nona. 720 credit, 15% down, 6 months reserves. Tax returns showed $42K net taxable — bank shopped the file as a 'low income' deny. We placed it as a 24-month bank-statement loan.

Qualifying income

$11,840 / mo

Loan amount

$412,250

Rate / APR

7.125% / 7.39%

Cash to close

$92,140

Sample only. Actual rates depend on full file review at lock.

FAQ

Questions borrowers ask first.

Do I need to provide tax returns?

No. The whole point of bank-statement, 1099-only, and P&L-only programs is that they replace tax returns as the income source. We don't pull your 1040s.

Will my write-offs hurt my approval?

No. That's exactly the problem these programs solve. Your bank deposits or 1099 gross is the income figure — not your Schedule C net after deductions.

How long do I need to be self-employed?

Most bank-statement programs require 24 months. We have 12-month programs and even one-year P&L-only programs for newer self-employed borrowers with strong credit and reserves.

Are rates higher on Non-QM loans?

Slightly. Typically 0.5–1.5% above conventional for similar credit. The trade-off is approval on a file that wouldn't qualify conventionally. We model both side-by-side so you see the math.

Can I refinance into a conventional loan later?

Yes. Once you have two years of tax returns showing the income, you can refinance into a conforming loan. Many of our clients do exactly that.

Next step

Stop being underwritten by your tax return.

Send your scenario. We come back inside 24 hours with the bank-statement, 1099, P&L, and DSCR programs that actually match your file.

Get my comparison (407) 201-4403

No credit pull · No application fee · Equal Housing Opportunity

Dr. Rate says: compare the real payment, not just the headline rate.