W-2s don't tell your whole story. Clear2 has loan programs built around how you actually earn, whether that's bank statements, 1099s, a P&L, or the cash flow from your investment property.
Conventional mortgage underwriting was designed around W-2 employment. If you run a business, work on contract, or own investment properties, there are programs built specifically for how your income actually works. Clear2 shops multiple wholesale lenders to match you with the right one.
Qualify using 12 or 24 months of personal or business bank statements. Your deposits determine qualifying income, not your tax return. Built for business owners whose write-offs reduce their taxable income well below actual cash flow.
If you receive 1099s from clients or platforms instead of a W-2, this program uses your 1099 earnings directly to calculate qualifying income. No business bank statements required, no tax transcripts. Ideal for independent contractors, consultants, and gig workers with consistent 1099 income.
A CPA-prepared profit and loss statement is all the income documentation this program requires. No bank statements, no tax returns. Some lenders combine a short bank statement period with the P&L for additional flexibility. A strong fit when your CPA can document business profitability clearly.
A debt service coverage ratio loan qualifies based on the property's rental income rather than your personal earnings. If the property generates enough monthly rent to cover the mortgage payment, you can qualify with no personal income documentation at all. Popular with self-employed real estate investors who own multiple properties.
The bank statement loan is the most widely used self-employed mortgage program. It was designed specifically for business owners whose legitimate deductions reduce their taxable income far below actual cash flow.
Lenders accept either 12 or 24 months of bank statements, then average monthly deposits to calculate qualifying income. Personal statements count 100% of deposits. Business statements typically apply a 50% expense factor, though a CPA letter documenting a lower actual expense ratio can increase that percentage.
This program works for primary residences, second homes, and investment properties. Loan amounts go up to $3M through Clear2's wholesale network, and you don't need to file an IRS transcript or supply W-2s at any point in the process.
Freelancers, independent contractors, and gig workers who receive 1099s often hit a wall with conventional lenders. Their tax returns show deductions that shrink qualifying income, and they don't have W-2s to provide regardless.
A 1099 loan uses the 1099 forms themselves as the primary income document. Lenders typically review one to two years of 1099s and may apply a small expense factor to calculate net qualifying income. The process is simpler than bank statement underwriting for borrowers with straightforward 1099 income from consistent clients.
Good candidates include Florida IT contractors working with multiple clients, sales representatives paid entirely on commission via 1099, independent professionals in healthcare, legal, or consulting, and platform workers with documented annual 1099 income.
A profit and loss loan takes the simplest documentation path of any self-employed mortgage program. Your CPA prepares a signed P&L statement covering your business income and expenses, and that document drives the income calculation. No bank statements, no tax transcripts, no IRS form requests.
Some lenders require a short period of bank statements alongside the P&L as a reasonableness check. Others accept the CPA document alone. The P&L program is a strong fit when your business financials are clean, your CPA can sign off on a well-structured statement, and you prefer to keep bank account records private.
This program typically requires a stronger credit profile than bank statement loans. Because there is less documentation to verify, lenders apply tighter credit and LTV guidelines to manage risk.
A debt service coverage ratio loan evaluates investment properties on their own financial merits. If the property generates enough rental income to cover the mortgage payment, you qualify, regardless of what your personal tax return shows.
The DSCR is calculated by dividing the property's monthly gross rental income by the proposed monthly mortgage payment including taxes and insurance. A DSCR of 1.0 means the rent exactly covers the payment. Most lenders want a 1.0 to 1.25 DSCR for the best pricing, though some programs allow DSCRs below 1.0 for well-qualified borrowers.
This program is particularly popular among Florida real estate investors who own multiple properties and prefer to keep their personal income documentation out of the underwriting process. There are no DTI calculations, no tax return requirements, and no employment verification steps.
Florida runs on independent work. Realtors, rideshare and delivery drivers, hospitality operators, and small business owners make up a big part of the buyers we talk to in Miami, Orlando, and Tampa. Florida has no state income tax, but that doesn't change how a conventional lender reads a Schedule C full of deductions.
Restaurant owners in Miami, property management firms in Fort Lauderdale, and service businesses in Jacksonville often show tax returns that understate real cash flow because of legitimate write-offs. Bank statement and P&L programs work from what the business actually brings in.
Real estate agents, tour and hospitality contractors around Orlando, and drivers who work through apps get paid on 1099s with income that swings by season. A 1099 loan or a bank statement loan averages that income instead of punishing the slow months.
Plenty of Florida investors own vacation rentals near the coast or the Orlando parks. A DSCR loan lets each property qualify on its own rent, so your personal return never enters the file.
These examples reflect situations Clear2 handles for self-employed Florida borrowers.
A Miami marketing agency owner has run her S-Corp for five years. Her tax return shows $74,000 in net income after deductions. Her business bank statements over 24 months average $21,000 in monthly deposits. Using a 50% expense factor, her qualifying income is $10,500 a month, enough to buy in Fort Lauderdale without using her tax return.
An Orlando electrical contractor gets paid on 1099s from three commercial clients. His 1099 income over two years averages $128,000 a year. A 1099 loan counts that gross income with a modest expense factor, which gives him far more buying power than his Schedule C net income would.
A Tampa business owner already owns two rentals and wants a third near the beaches. His personal return is complicated and he doesn't want the new rent layered into it. A DSCR loan looks at the new property's rent on its own. The rent covers the payment at a 1.15 ratio and the loan closes without any personal income documents.
Most loan officers are trained on conventional W-2 income. Self-employed borrowers get stuck when an LO doesn't know how to structure a bank statement income calculation, how to read a DSCR analysis, or which wholesale lender has the most favorable expense factor guidelines on a given day.
Clear2 Mortgage works exclusively with self-employed borrowers, investors, and non-traditional income earners across Florida. As an independent broker, we shop your file across more than 50 wholesale lenders to find the program with the best rate, the highest qualifying income, and the guidelines that actually match your situation. You don't pay more for that access, and you're never locked into one lender's guidelines.
Chris Kas-Marogi is Clear2's President and has structured financing for hundreds of self-employed borrowers, including buyers in Florida. He specializes in non-traditional income documentation and helps business owners, contractors, and consultants qualify for the home they've earned.
(248) 970-0041
Real reviews from real clients, pulled from Google.
"Donavin was straightforward and a breeze to work with. Communication was quick and easy. The whole process was seamless and he was available for guidance or questions. I would not hesitate to use Clear2 Mortgage in the future."
"Alex was absolutely amazing from the beginning. He was patient and thorough with all of our questions. He even followed up after the process was finalized to ensure everything was still good. I would recommend him to everyone!"
"The process was seamless and every question I had as a first-time home buyer was answered. My loan officer gave me his professional opinion based on my specific circumstances to personalize my loan."
Can I get a mortgage if I'm self-employed in Florida?
Yes. There are several mortgage programs designed specifically for self-employed borrowers who can't or don't want to use tax returns to qualify. Bank statement loans, 1099 loans, P&L loans, and DSCR loans each take a different approach to income documentation. The right program depends on how you earn, how your financials are structured, and what property type you're financing. Clear2 shops across more than 50 wholesale lenders to find the best match.
What's the difference between a bank statement loan and a conventional loan?
A conventional loan requires W-2s, two years of tax returns, and pay stubs. Your qualifying income is pulled from IRS transcripts, which means every deduction you take reduces what the lender can count toward your approval. A bank statement loan uses your actual deposit history instead. If your business generates $180,000 in revenue but your tax return shows $70,000 after deductions, the bank statement program works from the $180,000 figure, not the $70,000. The trade-off is a modest rate premium and stricter credit requirements.
Do I need 2 years of self-employment history?
Most self-employed mortgage programs require a minimum of two years of self-employment in the same field. Some lenders accept 12 months if you transitioned from W-2 employment in the same industry. The history is verified through business registration documents, a CPA letter, or business license records, not through tax returns. Borrowers who are newer to self-employment may have limited program options until they reach the two-year mark.
What credit score do I need for a self-employed mortgage?
It depends on the program. Bank statement loans typically start at 660. A 1099 loan generally requires 680. P&L loans often require 700 or higher. DSCR loans for investment properties typically start at 660. In all cases, pricing improves meaningfully at 720 and above. If your score is below these thresholds, it's worth talking to a Clear2 loan officer about which programs may still be available and what credit improvement steps would open the most options.
Can I use my business bank statements instead of personal?
Yes. Most bank statement programs accept either personal or business statements. Personal statements count 100% of deposits as qualifying income. Business statements apply a standard 50% expense factor, so only half of deposits count. If your actual business expense ratio is lower than 50%, your CPA can document it with a letter, and many lenders will apply a custom factor instead, which increases your qualifying income. Your Clear2 loan officer can walk through which statement type produces the stronger application for your situation.
Do self-employed buyers pay higher rates?
Programs like bank statement, 1099, and P&L loans typically carry a small rate premium over conventional full-documentation loans, usually 0.25 to 0.75 percentage points depending on credit score, LTV, and loan amount. DSCR loan rates vary based on property type and the coverage ratio. As an independent broker, Clear2 shops multiple lenders to find the most competitive rate available for your profile. The premium is meaningful, but for many self-employed borrowers it's the difference between getting approved and not getting approved at all.
Does Florida's lack of a state income tax help me qualify?
It helps your monthly budget, since there's no state income tax coming out of your earnings. Lenders still qualify you on documented income, so the program you pick matters more. Florida buyers should also plan for homeowners insurance and, near the coast, flood insurance, because both are part of the payment a lender qualifies you on.
Every program below has a Florida page with local loan limits and market detail.
Self-employed in a Florida city we serve? Miami · Orlando · Tampa · Jacksonville · Fort Lauderdale
No tax returns required for any of these programs. Just tell us how your income works and we'll match you with the lender that fits.
Clear2 Mortgage, LLC. NMLS #1911663. Licensed Mortgage Broker. 2600 W Big Beaver Rd, Suite 100, Troy, MI 48084. Equal Housing Lender. This is not a commitment to lend. All loans subject to credit approval, property appraisal, and underwriting guidelines. Rates and terms subject to change without notice.
