Mortgage Programs

The programs behind the introduction

When a self-employed buyer comes to you with complex income, they have more options than most people think. Here are four programs from CrossCountry Mortgage, built for buyers whose tax returns do not tell the whole story, and a look at how lenders work around those returns.

You do not need to memorize any of it. Read it once so you know what is possible, use it to answer the questions buyers ask, and use it for content that gets self-employed people raising their hands.

Your role stays the same: ask, don't diagnose. The numbers below are program guidelines, not a quote or an approval. Down payment, credit, and loan size work together, and every buyer gets an individual review. Never tell a buyer they qualify. Tell them there are programs built for people like them, and connect them with your preferred lender.

Jump to a program

Bank Statement 1099 Only P&L Only Asset Qualifier

At a glance

Four ways around the tax return

Program	Used instead of tax returns	Credit from	Down on a primary home, from	Loan amounts
Bank Statement	12 or 24 months of bank statements	600	10%	$100K to $4M
1099 Only	1 or 2 years of 1099s	600	10%	$100K to $4M
P&L Only	12 or 24 month P&L from a CPA, EA, or CTEC	680	20%	$100K to $2M
Asset Qualifier	Savings and investments. No income documents	600	10%	$100K to $3M

The lowest down payments go with stronger credit and smaller loans. Lower scores and bigger loans need more down. All four allow primary homes, second homes, and investment properties.

The programs

What each one does, and who it is for

Program 1Bank Statement

Built for

Business owners who write off a lot, so their taxable income looks small even though the business does well.

Highlights

No tax returns. Income comes from deposits on 12 or 24 months of personal or business bank statements.
Credit scores down to 600. Some buyers with no credit score can be considered with 30% or more down.
As little as 10% down on a primary home. Second homes and investment properties from 15% down.
Loan amounts from $100,000 to $4 million.
Time in business: generally two years. As little as 18 months can work when the buyer did the same kind of work before.
Recent credit events are not an automatic no. A bankruptcy, short sale, or modification means more down and lower limits the more recent it is.
Wide property range: 1 to 4 units, condos including some non-warrantable, condotels, co-ops, mixed use, and manufactured homes.
First-time buyers welcome, along with permanent residents, certain work visas, and ITIN or DACA buyers.

What the buyer brings

12 or 24 months of statements, the most recent within the last four months.
A letter from their CPA, EA, or tax preparer confirming they are self-employed.
Using business statements? They need to own at least 25% of the business.

"There's a program that looks at what goes into your bank account instead of what's on your tax return."

Program 21099 Only

Built for

Independent contractors, commissioned salespeople, and freelancers who get paid on 1099s.

Highlights

No tax returns. Income comes from the 1099s themselves.
Write-offs do not shrink the income. Instead of the expenses on their return, a flat 10% expense factor is applied to the 1099 earnings.
One full year can be enough. One or two years of 1099s, covering complete calendar years.
Credit scores down to 600.
As little as 10% down on a primary home. Second homes and investment properties from 15% down.
Loan amounts from $100,000 to $4 million.
Same flexibility on credit events, property types, first-time buyers, visas, and ITIN or DACA buyers as the Bank Statement program.

What the buyer brings

Their most recent one or two years of 1099s.
Proof of income so far this year.
IRS transcripts of the 1099s, which the lender typically requests.

"If you're paid on 1099s, there's a program that reads your 1099s, not your write-offs."

Program 3P&L Only

Built for

Established business owners whose accountant already prepares a profit and loss statement.

Highlights

No tax returns. The P&L is the income document.
12 or 24 month P&L, prepared by a licensed CPA, EA, or CTEC and covering the most recent period.
Credit scores from 680.
20% down on a purchase.
Loan amounts from $100,000 to $2 million.
Time in business: at least two years.
Property types include 1 to 4 units, condos including non-warrantable, condotels, co-ops, mixed use, and manufactured homes.

What the buyer brings

A 12 or 24 month P&L from their CPA, EA, or CTEC.
Proof they have been self-employed for two years.

"Your accountant's profit and loss statement may be the main thing a lender needs."

Program 4Asset Qualifier

Built for

Buyers with real savings and investments but low, uneven, or hard-to-document income: retirees, people who sold a business, investors, and owners between ventures.

Highlights

No income documents at all. No tax returns, no pay stubs, no bank statement income analysis.
Savings do the work. Cash, brokerage accounts, retirement accounts, cash-value life insurance, and cryptocurrency that has been sold to cash can all count.
Credit scores down to 600.
As little as 10% down on a primary home. Second homes and investment properties from 15% down.
Loan amounts from $100,000 to $3 million.
First-time buyers, permanent residents, and certain work visas are eligible. ITIN and DACA buyers are not on this program.

What the buyer brings

Recent statements for the accounts being counted, usually six months.
For retirement accounts, proof they can access the money.

"If you've built up savings, there's a program that looks at what you have instead of what you earn."

Scenarios

If you hear this, a program exists for it

These are the stories agents hear most. Each one points to the program worth a closer look, a question to ask, and the conclusion to avoid.

Scenario 1Strong business, low income on paper

What you hear

"My business does well. The bank just said my income was too low."

The program that exists

Bank Statement. Income comes from deposits, not the bottom line of the return.
P&L Only. If their accountant prepares a P&L, that can be the income document.

Ask

"Has anyone looked at options that use bank statements instead of tax returns?"
"Do you keep business and personal money in separate accounts?"

Do not conclude that deposits equal qualifying income. Expenses still come out of the calculation.

Scenario 2Partner or part owner

What you hear

"I own part of the business, and my partner handles the money side."

The program that exists

Bank Statement. Business statements can be used when the buyer owns at least 25% of the business.
P&L Only. Income is based on the buyer's share of ownership.
Full documentation with K-1s. A closer read of the returns and distributions is also an option.

Ask

"How is the business set up, and what share do you own?"
"Would your partner or accountant be comfortable talking with a lender?"

Do not conclude what their ownership share means for the loan amount.

Scenario 3Uneven or seasonal income

What you hear

"Some months are huge and some are slow. It balances out."

The program that exists

Bank Statement. With 24 months of statements, busy and slow seasons average out.
1099 Only. Two years of 1099s are averaged when earnings are steady or growing.
Asset Qualifier. If they have savings, income does not have to carry the loan.

Ask

"Is the pattern the same every year?"
"Has this year been up or down compared to last year?"

Do not conclude how a lender will average or weigh any period. A down year changes the math.

Scenario 4Told no somewhere else

What you hear

"I already talked to my bank. They said I can't get a mortgage."

The program that exists

Any of the four above. Many banks only offer loans that use tax returns. These programs were built for the buyers those loans turn away.

Ask

"What exactly did they say the problem was?"
"Do you know which type of loan they were reviewing you for?"

Do not conclude that the first answer was wrong, or that a second review will change it.

Hearing about write-offs, 1099 pay, a newer business, savings, or a rental purchase? Those are answered in the client questions below.

Client questions

What buyers ask, and what you can say

Answer with what is possible, then hand off. Every answer ends the same way: "Let me introduce you to someone who can look at your situation."

"Do I need tax returns to buy a house?"

Not always. There are programs that use bank statements, 1099s, an accountant's P&L, or savings instead.

"I write off everything. Does that hurt me?"

It hurts on a tax-return loan. A bank statement program looks at deposits, and the 1099 program applies a flat expense factor, so heavy write-offs do not have to be the end of it.

"I'm a contractor. I get paid on 1099s."

There is a program built around 1099s, and one full calendar year of them can be enough.

"I've only been on my own for about a year and a half."

That can still work in some cases, especially if they did the same kind of work before going out on their own.

"My income is all over the place, but I have savings."

There is a program that looks at savings and investments instead of income.

"I'm retired, or I just sold my business."

Same answer. Savings, investments, and retirement accounts can be the basis for the loan.

"My credit isn't great."

These programs consider scores down to 600. Lower scores usually mean a bigger down payment.

"I had a bankruptcy or short sale."

It is not an automatic no. How recent it was changes what is possible.

"How much do I need to put down?"

Some programs start at 10% down on a primary home, depending on credit and loan size. The exact figure comes from a review of their situation, not from you.

"Can I buy a rental or a second home this way?"

Yes. All four programs allow second homes and investment properties.

"It's a condo. Or a condotel. Or it has a storefront."

Many of these programs allow some non-warrantable condos, condotels, mixed-use properties, co-ops, and manufactured homes.

"Can my parents help with the down payment?"

Gift funds are allowed. With less than 20% down, part of the money usually has to come from the buyer.

"I'm not a U.S. citizen."

Permanent residents and buyers on certain work visas can be eligible, and some programs work with ITIN or DACA buyers.

"Is there a loan limit?"

Loan amounts run from $100,000 up to $4 million, depending on the program.

Content Studio

Posts that get self-employed buyers to raise their hand

Pick a post, choose how you share it, copy the prompt.

The Content Studio picks a post for you or starts from your own idea, then builds a prompt for ChatGPT, Claude or Gemini: a video script or a Facebook post. The Complete System adds LinkedIn posts, carousels and emails to your sphere. It already keeps out rates, payments and down payment amounts.

Open the Content Studio

Pair any post with the scenarios above, or run a general, anonymous scenario through the free 24/7 Self-Employed Strategy Desk.

Have a question?

Never share a buyer's documents. Email me a question about a program, or ask me to look over a post before it goes up.

Program highlights summarize CrossCountry Mortgage Signature Expanded guidelines, version 8.1, February 2026. Guidelines change without notice and availability varies by state. All loans are subject to credit approval, underwriting, and property eligibility, and not every buyer or property will be eligible. This page is not a loan offer, commitment to lend, preapproval, or tax or legal advice, and it does not quote rates, payments, or terms.

Ian Stockman, NMLS 408890. CrossCountry Mortgage, LLC, NMLS 3029. Equal Housing Opportunity.