The Redmond Mortgage Team, The Redmond Mortgage Team at Redmond Mortgage
LOAN PROGRAMS
Owning your own business in Central Georgia should not keep you from buying a home. Whether you run a construction company in Warner Robins, operate a medical practice in Macon, sell real estate in Perry, or freelance from your home office, you can absolutely qualify for a mortgage. The process is different from what W-2 employees experience, but with the right preparation and a mortgage broker who understands self-employed income, homeownership is well within reach.
When you are self-employed, lenders cannot simply look at pay stubs to verify your income. Instead, they review your tax returns to determine how much money you actually keep after business expenses. This means your net income — not your gross revenue — is what counts. If you earn $150,000 in revenue but write off $80,000 in expenses, the lender sees your income as $70,000. This is the single biggest challenge self-employed borrowers face when applying for a mortgage in Georgia.
Expect to provide more paperwork than a salaried employee. Most lenders will ask for:
Lenders typically average your income over the past two years. If your income increased from one year to the next, they may average it or use the lower year's income depending on their guidelines. If your income declined, the lender will want to know why — and may use the lower amount or disqualify the declining income entirely. Consistency matters. If you had a bad year because of a one-time event (like the pandemic, a major equipment purchase, or a client loss), document the reason clearly with your loan officer.
If you write off significant business expenses that reduce your taxable income, a bank statement loan may be a better fit. These non-QM (non-qualified mortgage) programs allow lenders to qualify you based on your business or personal bank deposits rather than your tax returns. Typically, lenders average deposits over 12 to 24 months and apply an expense factor to estimate your usable income. Bank statement loans require larger down payments — often 10% to 20% — and carry slightly higher rates, but they can be a lifeline for profitable business owners whose tax returns do not tell the full story.
Not every lender understands self-employed income. Large banks often have rigid overlays that make approval difficult. As an independent mortgage broker in Central Georgia, Redmond Mortgage has access to lenders who specialize in self-employed borrowers, bank statement loans, and other non-traditional income programs. We know how to present your financials in the strongest possible light and match you with a lender who gets it.
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We specialize in helping business owners, contractors, and entrepreneurs across Central Georgia get approved. Bank statement loans available.
Independent mortgage brokerage serving Central Georgia with multiple lender options.
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