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No Tax Return ?  No Problem !

W2 Only Mortgages

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Can I Qualify For A W2-Only Mortgage?

As long as you are a W2 wage earner ad do not have any other businesses and/or 1099 income, you can qualify.  Here are some of the requirements and guidelines:

  • Do not need tax transcripts (1040's) for FHA, VA and Conventional loans if you're a W2 employee.  This means you do not have to provide your Tax Returns.

  • Can not be employed by a family member

  • Can not use rental income from rental properties

  • FICO score as low as 580

  • FICO's lower than 580 are still possible but will require more down payment


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Bank Statement, P&L or 1099

A bank statement mortgage is a home loan that uses a borrower’s bank statements, personal or business, to calculate their income. This is considered an alternative documentation loan type since tax returns are not used to calculate income.  1099 earners use their 1099 to calculate income.  A CPA prepared P&L can also be used to calculate income.

These loans are for self-employed borrowers or private contractors who have tax write offs. When showing low income on tax returns it can be challenging to prove the ability to repay the mortgage. By using bank statements or 1099's or P&L's to qualify, there is a more accurate approach to calculating income.


  • At least 10% down payment (or 10% equity on refinance)

  • 600-660 minimum credit score

  • 12 months bank statements. Income will be averaged over 12 month period. 

  • Sometimes a one month bank statement can be used

  • Year to date profit and loss

  • 40-yr interest only available

  • Must be self-employed at least 2 years (rare cases allow for less than 2 years self-employed)

  • Primary residence, second home, and investment property allowed

  • Single family home, 2-4 unit, and condo allowed

  • Available on home purchase, refinance, and cash out refinance


Asset Qualifier Program


Asset Qualifier Program

Our Asset Qualifier loan product is for borrower’s to qualify using their liquid assets. We do not require employment, income or DTI (Debt to Income) ratio to justify ability-to-repay.  This means no Tax Return needed.   We qualify based on required assets that meet seasoning requirements. We have helped retirees, underserved self-employed, divorced with no income, and other borrowers with required seasoned assets to purchase or refinance. This easy to close loan is another solution helping borrowers with their home loan needs who could not under Agency guidelines. 

  • Loans up to $3 million, Minimum loan of $250,000


  • No employment, no income, no DTI (Debt to Income) ratio

  • Rates are 30-year fixed

  • Five years seasoning foreclosure, short sale or bankruptcy

  • Primary residence only

  • Purchase and cash-out or rate-term refinance

  • Interest only program available

  • All assets must be sourced and seasoned for a minimum of six months

  • Required assets: Loan amount, recurring monthly debt multiplied by 60 months, funds to close and six months reserves

  • Borrowers must have at least $500,000 in post-closing assets.

  • Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained

investor DSCR Loans

Investor Loans DSCR

The DSCR program allows you to qualify based on rental analysis to determine property cash flow. No personal income required to qualify, NO TAX RETURN required. This saves you from submitting complicated income statements and tax returns.  Debt service coverage ratio or DSCR is a measurement of a property’s expected cash flow to determine ability to repay a mortgage loan.

  • Loans up to $3.0 million, Minimum loan of $75,000

  • 15% to 30% down payment

  • Qualification based on property cash flow

  • No personal income or employment information required

  • Properties can be in LLC’s name

  • No limit on total number of properties

  • Borrower must own primary residence or have a current history of owning investment properties

  • Purchase and cash-out or rate-term refinance

  • 40 year interest only available

  • Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained.

  • Non-warrantable Condos now allowed

  • Short term rentals ok, no condotels


Questions?  Contact me now at 813-260-0778

God Bless You & God Bless America!

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