Self-Employed Borrowers: Two Success Stories That Prove Expertise Matters

The Hidden Trap for Self-Employed Borrowers

If you’re self-employed, getting approved for a mortgage can feel like climbing a mountain with a calculator in hand. Many applicants get denied not because they can’t afford the home—but because their true income picture isn’t accurately represented.

As Loan Officer Cherie Ford explains:

“The #1 mistake self-employed borrowers make is not looking for debts being paid by the business that could be verified with 12 months of bank statements. If you don’t omit those and are only using net profit from tax returns, you’ll kill the DTI.”

For entrepreneurs and business owners, many expenses listed under personal credit—cars, insurance, credit cards—are actually paid by the business. If your lender doesn’t verify that correctly, it artificially inflates your debt-to-income ratio (DTI) and could mean the difference between approval and denial.

That’s where experience and attention to detail matter most.

How Future Home Loans Helped Save a $48,000 Deposit

Another real-life example comes from Loan Officer Travis Underwood.

“I had a client who put down a $48,000 deposit with a builder after being told by a large bank that they could do the deal. The bank collected tax returns, submitted the file, and it sat with an underwriter for over 30 days before being declined. The borrower was in danger of losing his deposit.”

When the borrower was referred to Travis, time was critical. Using an asset-based lending program through CHANGE, Travis was able to get the loan approved and closed on time, saving the borrower’s home—and their hard-earned deposit.

“He almost lost everything because a big bank steered him wrong,” Travis said. “Future Home Loans stepped in and saved the day.”

Why These Stories Matter

 Knowledge of Self-Employed Guidelines — Knowing how to correctly calculate income from tax returns, bank statements, or profit-and-loss statements.
 Access to Specialty Programs — Asset-based and bank-statement loans can provide flexible solutions for business owners.
 Speed & Communication — A responsive team that understands timelines and builder requirements can make all the difference.

Whether you’re a business owner, freelancer, or contractor, working with a mortgage expert who understands self-employed borrowers isn’t optional—it’s essential.

 Local Expertise You Can Trust

Future Home Loans is a veteran-owned mortgage brokerage with offices throughout the Southeast, including Jacksonville Beach, St. Augustine, and Charleston, serving clients across 14 licensed states.

Our loan officers specialize in complex borrower profiles—especially self-employed clients who need an advocate who knows the rules, the exceptions, and the opportunities.

Thinking of buying or refinancing?
Schedule a Homebuyer Check-Up to see what programs fit your business and personal goals.

 FAQ

Q: Can I qualify for a mortgage if I’m self-employed but don’t show much net income on my tax return?
A: Yes. Lenders can use bank-statement programs or asset-based loans to calculate income more accurately if your business has strong cash flow.

Q: What’s the difference between using a big bank and a mortgage broker like Future Home Loans?
A: Brokers have access to multiple programs and lenders—offering flexibility and speed that traditional banks can’t always match.

Q: How do I know if debts can be omitted from my DTI?
A: If your business has paid the debt consistently for at least 12 months and it can be verified through bank statements, it may qualify to be excluded from your personal DTI.