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New Home Financing Solutions for Self-Employed Borrowers

By W. Todd Galde

Are you self-employed or derive 100% of your income from commissions?

Do you take advantage of the IRS tax laws in order to reduce your taxable income?

Do you not “show” enough income on your taxes to qualify for a traditional home loan?


The CFPB’s Ability-to-Repay and Qualified Mortgage Standards require Conventional lenders to use the income disclosed to the IRS for qualifying, even though the actual deposited income may be considerably higher. As a result, you may have been declined for financing.


“Make Sense” Underwriting and Financing Solutions


For the last several years we have been asking for “make sense” home financing solutions for Self-Employed borrowers and now, at long last, they are here!


Commerce Home Mortgage has rolled out a suite of new loan products, with special emphasis on catering to Self-Employed borrowers who have been unable to obtain financing.


These new programs avoid looking at tax returns and even P&L statements and simply focus on the business-related DEPOSITS on the bank account statements. This allows us to use alternative methods for deriving income in order to qualify the borrower for a higher loan amount.


It works for purchases and refinances, including obtaining cash-out of your existing home to pay off IRS tax liens, credit cards, or cover children’s school tuition.


Here are a few highlights of the programs


  • Qualify with both business and personal statements
  • We do not look at withdrawals or overdrafts
  • We do not require Profit & Loss (P&L) statements
  • No requirement for reserves
  • Can go as high as 90% loan-to-value


We have been asking for “make sense” home financing solutions for Self-Employed borrowers and they are now here! Commerce Home Mortgage is one of the first lenders in California to roll them out.


Please call or email if you or someone you know might be able to utilize this new financing opportunity. My team and I are ready to serve you and those you love…


Advising. Smart. Financing.




Todd Galde