Self-Employed Home Buyers in Round Rock
A lender's read of your 1099 or business file before you shop, with your options side by side.
What Buying a Home Means When You Are Self-Employed
Self-employed home buyers in Round Rock often hear the same thing from themselves before they hear it from a bank: "We can't qualify. Our income is 1099." That is usually a guess, not a rule. A lender asks one question about your income: is it real, and is it steady? If you own a salon, a restaurant or a truck, or you work on a 1099, there is often a way to show that.
The catch nobody explains is that a lender reads your net income, not your gross. Your business may bring in a lot, but after write-offs your tax return can show much less. That gap is fixable when you know about it early, and painful when you find out at the end. I am Ai Tran, a Realtor and a Loan Officer with Loan Factory, and I look at your file with you before you look at a single house.
How I Work With Self-Employed and 1099 Buyers
First I read your file the way a lender will. For most self-employed buyers that means two years of tax returns and a profit and loss statement. I show you what the lender sees, and I give you the real number, not the one you hoped for or the one you feared.
Then we look at the paths that fit. Sometimes your returns already work. Sometimes a bank statement loan, which looks at deposits instead of the tax return, fits better. Sometimes the right move is planning your next tax filing with your CPA and buying after it. I lay out the options and tell you which one I would pick if this were my file. I do not give tax advice, so the tax side stays with your CPA.
Income has to show on paper for a lender to count it. If part of your income is not on your returns or in your bank deposits, I tell you plainly what that means for the number, with no judgment about your paperwork.
What You Get as a Self-Employed Buyer
- A lender's read of your file, early. Before a house, before an offer, before a deadline.
- Your options side by side. Your returns as they are, a bank statement loan, or a plan for next year.
- One person for the house and the loan. See how that works on One Desk home loans.
- Explanations in English or Vietnamese. Read about service in Vietnamese.
- A clear next step. Sometimes that step is to wait, and I will say so.
The rest of the purchase follows the steps on how buying a home works with me.
What to Bring to Our First Meeting
You do not need everything at once, and missing papers are not a reason to stay away. A lender's first read of a self-employed file usually starts with these:
- Your last two years of personal tax returns, and business returns if your business files its own.
- A profit and loss statement for this year so far.
- Recent bank statements, personal and business.
- Anything that shows how long the business has been running, such as a license or registration.
Bring what you have. I tell you what is missing, what each program asks for, and which piece matters most for your number. If my read is that next year's return will help more than this year's, I show you why and we plan around it.
Self-Employed Home Buying Across the Areas I Serve
I help self-employed buyers in Round Rock, north Austin and the towns nearby:
Loan Disclosures
Ai Tran, NMLS #2627075. Loans are offered through Loan Factory, NMLS #320841. Equal Housing Lender. Rates, products and fees are subject to change. Every loan is subject to underwriting approval, and not all applicants will qualify. Terms and conditions apply. Loans are offered in Texas and California only.
This page is general information, not tax or legal advice. For tax questions about your business income, talk with your CPA. Read Loan Factory's disclosures and the Texas disclosures.
Frequently Asked Questions
Can I buy a house if I am paid on a 1099?
Often, yes. A lender wants to see that your income is real and steady, usually through two years of tax returns. Some loans, such as bank statement loans, look at deposits instead.
Why does the lender use a lower income than I make?
Lenders read your net income after business write-offs, not your gross. That can make your income look smaller on paper. Knowing it early gives you time to plan.
Do I need two years of tax returns?
For most self-employed loans, yes. Some programs work differently, and I show you which ones may fit your file.
Can you tell me how to file my taxes so I qualify?
No. I do not give tax advice. I show you what a lender reads, and you plan the filing with your CPA.
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Ready to make your move with Ai Tran?