The Top 15 Self-Employed Mortgage Lenders of 2025

Getting qualified for a mortgage can already feel daunting, but for someone who’s self-employed, it can feel impossible. Traditional lenders rely on W2s, pay stubs, and tax returns to verify income, which often leaves self-employed individuals struggling to prove their financial stability. 

Did you know that there are plenty of loan options that were created with the self-employed in mind, where this isn’t an issue at all? You would only need to find the best self-employed mortgage lender who can guide you through that process.

At Defy Mortgage, we specialize in providing creative solutions to self-employed individuals, real estate investors, 1099 contract workers, entrepreneurs, business owners, and anyone else whose unconventional income streams may make it more difficult for them to get a mortgage. With our competitive rates, dedicated end-to-end support, and 75+ fully customizable non-traditional mortgage options, we’re confident that we can give you the financial tools you need to succeed. 

In this guide, we’ll showcase the best mortgage lenders for self-employed individuals. Each provider has years of experience working with the unique income structures of the self-employed and providing them with top-notch service. 

We will discuss their strengths and core offerings to help you decide which one best aligns with your needs and goals.

What is a Self-Employed Mortgage?

Self-employed mortgages are a category of mortgages that cater specifically to the self-employed, freelancers, entrepreneurs, or anyone with an irregular or non-traditional source of income. Offered by self-employed mortgage lenders, these mortgages consider a larger range of income documentation, making qualification for self-employed individuals easier. 

There are many myths about self-employed mortgages. Contrary to those common beliefs, self-employed individuals can absolutely qualify for mortgages using bank statements, profit and loss statements, business financials, and even the property’s rental income. Lenders use these alternative documents in place of traditional income documents to determine that the borrower makes enough income to repay the loan. 

Anyone who has an irregular or non-traditional source of income could benefit from a self-employed mortgage to achieve their homeownership goals. Some examples of these individuals are:

1. Self-employed Individuals
2. Freelancers
3. Gig Workers
4. Small Business Owners
5. E-Commerce Professionals
6. Independent Contractors
7. Real Estate Investors
8. Artists
9. Doctors in Private Practice
10. Self-Employed Lawyers
11. Individuals With Multiple Streams of Income
12. Truck Drivers
13. Individuals with unique circumstances who would not be able to qualify for a traditional mortgage

If you’re self-employed and interested in qualifying for a mortgage, contact us and we will help you navigate this process.

How Was This List Formed?

We considered several factors to help determine who the best self-employed mortgage lenders are in the industry. We update this list every year to reflect the latest changes, including employees’ experience, reviews, rate transparency, brand awards, and more. 

Please note that this list is in no particular order.

The Top 15 Self-Employed Mortgage Lenders of 2025

1. Defy Mortgage

Defy Mortgage is a rising star of the non-QM mortgage industry and was founded with a mission to elevate the mortgage experience for non-traditional borrowers. For self-employed individuals, qualifying for a home mortgage shouldn’t be a challenge. With Defy at your side, it never will be.

Defy’s CEO, Todd Orlando, winner of Inman’s 2023 and 2024 Finance Award, is an experienced banker who isn’t afraid of challenging the status quo in the financial services industry. Recognizing that the number of self-employed individuals is at an all-time high, Defy is dedicated to specializing in non-QM loans to help non-traditional borrowers achieve their American dream of homeownership. We also realize that self-employed individuals come in many different forms – real estate investors, gig workers, retirees, and more – resulting in a wide variety of creative loan solutions to fit every borrower’s needs, whether you are looking to purchase or refinance a primary, secondary, or investment property. 

As one of the best lenders for 1099 employees, self-employed individuals, business owners, and real estate investors, Defy offers a wide range of self-employed loans with no tax returns or W2s needed:

1. Bank Statement Loans (personal or business)
2. Profit & Loss (P&L) Loans
3. DSCR Loans (qualify using rental income!)
4. Asset Depletion Loans
5. Interest-Only Loans and MORE

Since 2022, Defy has been empowering dreams and enriching lives by providing alternative mortgage solutions, and we have no plans of slowing down. When others say no, Defy says yes. Being self-employed shouldn’t and doesn’t make you less qualified for a mortgage.

Defy has over 75+ customizable lending options to fit your unique needs, and some of the benefits include:

1. 620 Min FICO options
2. 12-24 months of Bank Statement options
3. Flexible LTV options (Up to 85% for some who meet certain criteria)
4. 1099/Gig-worker lending options

We take a full 360-degree look at your unique finances, goals, and background. Not just judging you by some standard checklist. The Defy Mortgage team factors in all aspects to craft mortgage options that actually fit your lifestyle. Simple home loans, fast pre-approval times, easy application processes, and no obligation or application fees ever when you apply. If you need a home loan, Defy has self-employed mortgages for you.

2. North American Savings Bank

Located in Kansas City, Missouri, North American Savings Bank (NASB) is a full-service bank offering a variety of mortgage products. Their self-employed mortgage loans, in particular, come with down payments as low as 10% and amount up to $1,250,000 with a FICO score of at least 680.

In terms of loan options for self-employed individuals, NASB offers:

1. Bank Statement Loans
2. 1099 Mortgage Loans
3. Asset Depletion Mortgage
4. DSCR Loans
5. Investment Property Loans
6. FLEX Loans
7. Non-Conforming Loans

3. Truss Financial

Truss Financial Group’s main focus is on making homeownership a reality for those with unique income situations, like business owners and real estate investors. They offer a wide range of non-QM loans that are tailored to the unique circumstances of self-employed borrowers, such as:

1. Stated Income Mortgages
2. Bank Statement Mortgages
3. Debt Service Coverage Ratio (DSCR) Mortgages
4. Asset Depletion Mortgages
5. No Doc Mortgages
6. Fix-and Flip Loans

4. Angel Oak Mortgage Solutions

Angel Oak Mortgage Solutions is a full-service lender with a diverse lending portfolio encompassing both traditional and non-QM loans. Bank statement loans are their chief non-QM offering, and they also made our list of the top 15 bank statement lenders of 2025. Much like many other bank statement lenders, they do not require 100% business ownership to qualify with business income using bank statements. Here is a full list of their primary self-employed mortgage offerings:

1. Bank Statement Loans (with the option of Bank Statement Elite with amounts up to $3 million)
2. DSCR Loans
3. Bank Statement HELOCs
4. 1099 Income Loans
5. Profit & Loss (P&L) Loans
6. Asset Qualifier
7. ITIN Mortgage Loans
8. Foreign National Loans
9. Other specialty programs such as: Closed End Second Mortgages, Platinum Jumbo, Portfolio Select, and Agency Mortgages

5. New American Funding

Established in California nearly 20 years ago, New American Funding is a private direct mortgage lender with a focus on tech innovation and extending aid to underserved communities, with initiatives such as Latino and Black homeownership programs.

For self-employed borrowers, they have several loan options, such as a 12-month bank statement program, an asset qualifier, and a one-year tax return program. Their requirements include:

1. Minimum self-employment history of at least two years, which is a little higher than the industry average.
2. A tax return requirement for at least the previous year.
3. Business tax returns for the same year.
4. A signed and dated Profit and Loss statement for 90 days
5. Business bank statements for 90 days with all pages

6. CrossCountry Mortgage

Established in 2003, CrossCountry Mortgage was armed with the goal of becoming a full-service lender providing transparent and quick mortgage experiences to customers from coast to coast. 

While they offer standard mortgage types, CrossCountry Mortgage also offers specialty loan programs for self-employed individuals. Their specialty loan programs include:

1. Bank Statement Loans
2. Asset Qualifier Mortgages
3. Full Doc Loans
4. Investor Cash Flow Loans
5. Alt Doc – 1099 Mortgage Programs

7. Griffin Funding

Founded in 2013 in San Diego, California, Griffin Funding is a direct lender that solely operates online. Despite offering a wide variety of loan products for both traditional and non-traditional borrowers, Griffin Funding primarily focuses on veterans, self-employed individuals, and real estate investors. 

Griffin Funding has many non-QM options to suit the needs of many different types of borrowers, including:

1. Bank Statement Loans
2. Profit & Loss (P&L) Loans
3. DSCR Loans
4. Foreign National Loans (including ITIN Mortgages)
5. Asset-Based Loans
6. Interest-Only Loans

8. Deephaven Mortgage

Deephaven Mortgage was founded in 2012 with the goal of providing mortgages to Americans who are unable to qualify for a traditional loan. They are a wholesale non-QM lender that offers their loans through a network of over 1,000 independent mortgage brokers. Despite being a non-QM lender, they prefer to call themselves a “pro-borrower” mortgage lender. 

Deephaven’s lending programs for self-employed individuals include:

1. Expanded-Prime
2. Non-Prime
3. DSCR Loans
4. Equity Advantage 

9. First National Bank of America

As a nationally chartered full-service bank, FNBA offers several other retail and business banking products in addition to its alternative mortgage options, allowing its clients to bank in one place. Its non-QM loan programs offer an alternative mortgage solution for borrowers nationwide who are self-employed, hold an ITIN, and have had at least one previous credit event.

FNBA allows you to qualify for their non-QM loans using alternative proof of income such as:

1. Profit and loss statements only
2. Bank statements (personal or business)
3. Seasoned assets

10. Carrington Mortgage 

Headquartered in California, Carrington Mortgage is a licensed lender in 48 US states but services loans in all 50 states and Puerto Rico. Its mission is to enable a lifetime of simple and attainable homeownership. 

Carrington offers several options for self-employed borrowers under their “Carrington Flexible Advantage” loan umbrella, including:

1. Flexible Advantage Loans
2. Flexible Advantage Plus Loans
3. Carrington Prime Advantage Loans
4. Adjustable-Rate Mortgages

11. Acra Lending

Acra Lending operates in 39 states and DC and provides its programs and services through consumer direct lending, wholesale lending, investor lending, and correspondent lending. It aims to help its clients achieve their homeownership and investment goals by specializing in alternative income products, such as bank statement and asset depletion loans. 

For those who don’t have traditional income, Acra has several self-employed mortgage options, including:

1. 12-Month Bank Statement Loans
2. ATR-in-Full Loans
3. Business Purpose Loans
4. DSCR Loans
5. Investor Loans
6. 1099 Only Loans
7. P&L Programs

12. A&D Mortgage

Founded in 2005 as a retail lender operating only in Florida, A&D Mortgage is now a direct lender committed to bringing first-class service to its partners in 42 states. Having survived the 2008 financial crisis by pivoting to the emerging market for wholesale non-QM loans, A&D Mortgage has become one of the leaders in the mortgage market with over 6,000 brokerage companies. 

A&D Mortgage offers both standard and alternative self-employed mortgage programs to suit every type of borrower. Their self-employed mortgage options include:

1. DSCR Loans
2. 12 or 24 Months Bank Statement Loans
3. 1 or 2 Year Profit & Loss (P&L) Loans
4. 1099 Loans
5. Asset Utilization Loans
6. Foreign National DSCR Loans

13. Guaranteed Rate

Guaranteed Rate is a Chicago-based lender that specializes in innovative solutions to long-standing lending challenges. One chief example is their “Proactive Mortgage Pod” model, in which they attach a team of highly-trained specialists to each loan officer, making the loan process even faster. 

While their website doesn’t mention very many specific alternative mortgage options for self-employed individuals, they have non-QM loans and bank statement loans, as well as stating they have programs to support all kinds of homeownership needs. 

14. Change Home Mortgage

Change Home Mortgage is headquartered in Anaheim, California with the mission of providing financing solutions to all of America’s diverse homeowners and communities. As a community development financial institution (CDFI), they focus on serving disadvantaged families and low- to moderate-income borrowers.

Change Home Mortgage offers several options when it comes to self-employed mortgages, such as:

1. Community Mortgages
2. Investor Programs
3. Alt-Doc Programs

15. United Wholesale Mortgage

United Wholesale Mortgage (UWM) is a Michigan-based wholesale lender that offers a wide range of mortgage programs. However, they only offer bank statement loans and DSCR loans for real estate investors. That said, they offer four different loan options under these categories, each with its own eligibility requirements and loan terms.

6 Steps to Get a Self-Employed Mortgage

Getting a mortgage when you’re self-employed requires a structured method. Here are some general steps you should follow in order to secure it successfully:

1. Determine whether you classify as a self-employed individual: Lenders typically consider you self-employed if you own 25% or more of a business or receive the majority of your income from non-salaried sources. Most mortgage programs require at least two years of self-employment history; however, some may accept one year if you have a prior two-year track record in a related field with comparable income. If you’ve only been self-employed for a year or less with no prior experience in your line of work, you may be less likely to qualify for a self-employed mortgage.
   
2. Decide on a self-employed mortgage program: Once you’ve confirmed that you’re qualified for a self-employed mortgage, decide which loan option is right for you. Although you can still apply for conventional and government-backed mortgages, non-QM programs such as bank statement loans, P&L loans, and DSCR loans are often better-suited for individuals with unconventional income streams.
   

3. Understand how lenders evaluate your self-employed income: Lenders typically take the past two or more years of your tax returns or bank statements to arrive at your average income from those years. They may also assess factors such as business structure, income consistency, and personal debt-to-income ratio (DTI) to determine whether you can repay the loan. You can refer to Fannie Mae’s Cash Flow Analysis Form 1084 or similar forms to help you anticipate lender underwriting processes.
   
4. Estimate your qualified income: Mortgage lenders for self employed individuals typically assess net income, or the amount you make after deducting business expenses, instead of your gross income. By calculating your qualifying income in advance, you can project the proper loan size and the price range of your ideal property.
   
5. Organize your documents: Thorough documentation is crucial to prove your income when self-employed. Lenders typically require your business licenses, if applicable, as well as two years of personal and business tax returns, profit and loss statements, and bank statements to assess income stability and business viability. ​
   
6. Shop around for the best self-employed mortgage lender for your needs: Not all lenders are equally equipped to handle self-employed mortgage applications. To find the best fit, compare several lenders, focusing on their experience with self-employed borrowers, your preferred loan programs, rates, flexibility in income verification methods, and customer service. A lender who understands the nuances of self-employment income (like Defy) can offer tailored solutions to meet your unique financial situation.

5 Tips to Put Your Best Application Forward

The standards that self-employed borrowers are held to can seem stricter than those applying for standard loans, but there are certain things you can do to maximize the chances of getting approved with good loan terms:

1. Improve your financials: Enhancing your financial health is crucial for mortgage approval. Lenders favor applicants with a low debt-to-income (DTI) ratio (ideally below 43%), which you can achieve by paying down existing debts. This also helps you improve your credit score and credit utilization, which should be under 30%. Not taking on new debts before applying also assists with this.
   

2. Help lenders understand your business: Be prepared to explain your business’s nature, operations, and any income fluctuations, as lenders will evaluate factors like business longevity, debt levels, and income trends to determine your ability to repay the loan.
   
3. Separate your personal and business finances: Keeping distinct bank accounts and credit cards for personal and business finances helps keep your financial profile more organized, speeding up the underwriting process and increasing lender confidence.
   
4. Temporarily reduce business tax deductions: While business deductions lower the taxes you have to pay, they also lower the total income reported on tax returns, which can be an issue if your chosen mortgage program relies on tax returns to gauge your income. You can sidestep this issue entirely by choosing a loan type that relies on other sources of income, such as a bank statement loan or a DSCR loan, but otherwise, you may have to hold off on tax deductions for a few months prior to applying for a mortgage to maximize the income you report in your application.
   
5. Save up for a larger down payment: Depending on the lender and the type of mortgage, putting more money down can increase lender confidence and potentially reduce rates. It can also increase the total loan amount, allowing you to access higher-end properties. Even without these benefits, a larger down payment results in a lower principal, which ultimately reduces the overall cost of your mortgage or exempts you from having to pay private mortgage insurance (PMI).

Key Takeaways

Being self-employed doesn’t mean that you’re less qualified for a mortgage, and a great lender can help you prepare your finances in a way that shows your full financial picture. More and more flexible mortgage products are now tailored for gig workers, business owners, freelancers, and other independent owners as America’s workforce leans further towards non-traditional income paths. 

While each company in our list of the best mortgage lenders for self-employed workers has built its reputation to help self-employed borrowers succeed, Defy distinguishes itself by offering highly personalized and creative solutions tailored specifically to self-employed individuals.

If you’re ready to take the next step, Defy is ready to assist you. You can book a consultation with our mortgage experts, email us at team@defymortgage.com, or call us at (615) 622-1032. We’re always standing by to answer questions and provide personalized guidance.