Self-Employed Home Loans in Georgetown, TX: Qualify on Real Cash Flow

Your Tax Return Isn't the Whole Story

If you run your own business, you already know the drill. Your accountant does a great job, your write-offs are legitimate, and your taxable income ends up looking a lot smaller than what actually flows through your accounts. Then a bank looks at that tax return and tells you that you don't qualify.

Quite frankly, that's a documentation problem, not an income problem. I'm Scottie Campbell, Mortgage Advisor and owner of Waymaker Mortgage Company here in Georgetown, TX. I've been in mortgage since 2003, and I'm a real estate investor myself, so I understand what self-employed cash flow looks like from the inside. It's never a no. It's always a how.

How a Bank-Statement Loan Works

A bank-statement loan qualifies you on the deposits going into your business or personal bank accounts instead of the adjusted income on your tax returns. Here's the general idea:

• Statements: Most programs look at 12 or 24 months of bank statements.
• Qualifying income: The investor reviews your deposits, backs out transfers and one-time items, and applies an expense factor (or uses a profit and loss statement) to arrive at a monthly income figure.
• Business history: Investors typically want to see a track record in your business or your line of work. Requirements vary by investor, and I'll confirm what applies to you.
• Credit: My minimum is a 620 credit score. If you don't have a traditional score, there are no-score options I can review case by case.

What that means for you is that the income you actually earn can finally count toward the home you want.

Other Paths for Self-Employed Borrowers

Bank statements are one tool, not the only one. Depending on how you get paid and what you own, we may look at:

• 12 or 24 month personal or business bank statements for owners with steady deposits
• 1099 income for contractors and freelancers paid on a 1099
• Profit and loss documentation for owners with organized books
• Asset-based qualifying for borrowers with substantial savings or investments
• A traditional loan when your tax returns already support the purchase

I always check the traditional route first. If your returns work for a conventional loan, I'll tell you, because my job is to find the right fit, not to steer you toward a particular product.

Why the Lender You Pick Matters

Here's something most borrowers never hear. At a typical bank, your file goes to one underwriting desk with one set of rules. If your situation doesn't fit that box, the answer is no, and that's the end of it.

Waymaker Mortgage Company works differently. We close and fund bank-statement loans in house, in our own name, with underwriting through multiple non-QM investor partners. Each investor looks at self-employed income a little differently. If one investor's guidelines don't fit your file, I take it to one that does. You're talking to the owner of this company, and I make that call personally.

Making Your Offer Count

Self-employed buyers often worry that a seller will see their financing as the weaker offer. That's where Greenlight Approval comes in. My team and I pre-underwrite as many files as possible up front, so your income, assets and credit are reviewed before you ever write an offer. Greenlight Approval is the highest assurance of approval available, and it can make your offer as strong as cash, sometimes stronger in a seller's eyes.

Looking at the Total Cost, Not Just the Rate

People ask me about rates first, and I understand why. Your rate depends on your scenario and the day's market. Reach out and I'll price it for real.

But the rate is only one piece. With my Total Cost Analysis, we look at what the loan costs over the time you actually plan to own the home: closing costs, how long you'll keep the loan, whether refinancing later makes sense once your tax returns catch up to your business, and how the payment fits your cash flow in slow months and busy ones. I kinda like that strategy for self-employed buyers because your income has seasons, and your mortgage plan should account for them.

What to Gather Before We Talk

You don't need everything on day one, but having these ready will get you rocking and rolling faster:

High-tech, high-touch is how we run things. You'll upload documents through a secure portal, and you'll still have a real person who answers when you call. My team keeps the requests organized up front so you're not chasing a new document every other day.

Can't Do It Now Doesn't Mean Can't Do It Ever

If we review your file and the numbers aren't quite there yet, you won't get a vague no. You'll get a Mortgage Action Plan: what needs to change, roughly how long it may take, and what we'll do together to get there. Maybe it's a few more months of deposits, paying down a balance, or separating business and personal accounts. Can't do it now doesn't mean can't do it ever.

Let's Look at Your Real Numbers

My job is to educate and empower you. Your job is to decide. If you're self-employed and buying in Georgetown, TX or anywhere I'm licensed (Texas, Florida, Pennsylvania and Ohio), feel free to text me or book a call. I'm here to serve, and I'll give you a straight answer about what's possible.

Information on this page is general and educational. It is not a commitment to lend or an offer of credit. Programs, guidelines and eligibility change and depend on your full scenario. Waymaker Mortgage Company, NMLS 2440476. Equal Housing Lender.