Requirements for Self-Employed Mortgage Borrowers

Expect to show extra documentation to prove income and debt levels, and boost your chances by separating business and personal finances.
Taylor Getler
By Taylor Getler 
Updated
Edited by Johanna Arnone Reviewed by Michelle Blackford

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If you’re a small-business owner, freelancer, consultant, contractor, gig worker or otherwise report most of your income via 1099 tax form, lenders will consider you self-employed when you apply for a mortgage.

Self-employed income will likely be considered nontraditional by mortgage lenders, which means you’ll need to provide extra documentation. You can help assure lenders that you can keep up with home loan payments by following these guidelines.

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New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

NBKC - PURCHASE logo
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on NBKC

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4.5

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Min. credit score 
620

Min. down payment 
3%

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on NBKC

Prosperity Home Mortgage - PURCHASE logo
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Prosperity Home Mortgage - PURCHASE logo

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Min. credit score 
580

Min. down payment 

0%

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on Prosperity Home Mortgage