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A Self-Employed Home Buyer's Guide to Choosing the Right Mortgage Lender

TopMortgage Staff
Get Your Self-Employed Mortgage
About 10% of Americans are self-employed as small business owners, entrepreneurs, or freelancers. You probably know about the many advantages of being self-employed over being a salaried employee, including being your own boss and getting to set your own hours. On the flipside, it can be harder to get a mortgage when you’re self-employed.

This comparison of top lenders caters to people who don’t fit the traditional employee structure.

Home Loans for Self-Employed Borrowers

It can be confusing to prove earnings when applying for a mortgage as a sole proprietor, since you don’t have a pay stub or set monthly income. Salaried employees need to show 6 to 12 months of pay slips and up to a couple of years of W2 forms—which report the employee’s annual wages and the amount of taxes withheld from their paycheck.

What are The Top Mortgage Lenders for Self-Employed Borrowers?
Required Credit Score

No minimum

620 for most loans

Self-Employed Mortgage Requirements

Whether or not you choose to incorporate, stay solo, or run a partnership, lenders will probably ask you for most of the following, some of which you’ll need your accountant’s help to prepare:

  • At least 2 years of personal tax returns, including form W2 if you pay yourself a salary.
  • A list of debts and assets.
  • A profit and loss statement for the current year.
  • If you’ve incorporated: at least 2 years of business tax returns, a signed letter from your accountant attesting to your business’s stability, and written consent from other owners to grant access to the business’s financial records.

Our Top Lenders

Quicken Loans

Minimum down payment: 5%

Quicken Loans is one of the most reputable mortgage lenders. It offers a large range of mortgage options including refinance loans, FHA, USDA, VA loans, jumbo loans and more.

  • Fast application process
  • A bevy of educational resources

Suitable for: Those looking for current rates on 15-year mortgages

Standout feature:  Low rates and online customer service

Quicken Loans Quicken Loans View Rates


Minimum down payment: Varies per customer

If you’re looking for a 30-year mortgage, there are few options out there that can match the ease and convenience of Better mortgage

The company is an all-digital platform that looks at your goals and means in order to develop a personalized loan for you. And all of the rates offered by Better are backed up by the Better Price Guarantee, which promises that the company will beat any competing price, and even beat it by $1,000. 

 There are no origination or lender fees and no commission. That said, there are prepayment penalties. Better allows you to lock in your rate and connects you with a single loan officer once you've finished the pre-approval process. 

  • No origination or lender fees 

  • Many different fixed and variable rate loans 

  • Fast approval process

Suitable for: Simple, online mortgage

Standout feature: Instant loan estimates

View Rates


Ideal for refinancing

AmeriSave Mortgage Corporation is a full-service mortgage lender operating in 49 states and DC. Established in Atlanta in 2002, it has funded 220,000+ homes for a total value of more than $55 billion. AmeriSave is known for offering streamlined online applications with the option of contacting customer support any time you need assistance.

  • Apply and submit forms directly online
  • No SSN needed to get pre-approved rates
  • Recommended for refinancing

View Rates


Regardless of your financial and personal circumstances, it’s a good idea to shop around between a few lenders to see which one can offer you the lowest rates and most ideal down payments and terms.

Having said that, self-employed home buyers should also take into consideration how much documentation the lender needs to see and how quickly the lender can process the mortgage application. This is important because mortgage applications can take as little as a couple of weeks or as long as a couple of months. The longer your application takes, the more likely that other things can go wrong with your home purchase or that your purchase falls through altogether.

Therefore, when shopping around between lenders, ask upfront about which documents they’ll need. Don’t be afraid to ask them for specifics: if one lender requires fewer forms and documents relating to your income and taxes than another lender, this might be the tie-breaker for deciding which of the 2 lenders is right for you.