Self-Employed & Non-Traditional Income Loans

Bank statement loans, asset depletion mortgages, 1099 programs, and Non-QM solutions for Grosse Pointe borrowers whose income doesn't fit the W-2 mold.

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If you've been told you don't qualify for a mortgage because your income is "too complicated," you've been talking to the wrong lender. Grosse Pointe is home to business owners, medical professionals, consultants, retirees, and investors whose income doesn't follow a simple W-2 paycheck — but whose financial profiles are strong. Tetra Home Loans specializes in matching these borrowers with loan programs designed for how they actually earn, not how a traditional bank wishes they earned.

Who This Is For

If your income comes from any of these sources, traditional lenders may have made the process harder than it needs to be.

Business Owners

Sole proprietors, LLC members, S-Corp and C-Corp owners with legitimate deductions that lower taxable income.

1099 Contractors

Freelancers, consultants, and independent contractors who earn project-based or variable income.

Retirees

Individuals with significant assets but limited monthly income on paper — pensions, Social Security, and investment drawdowns.

Real Estate Investors

Investors whose rental income and portfolio complexity make traditional qualification difficult.

The Self-Employed Mortgage Problem

Here's the disconnect: you run a profitable business, make smart tax deductions, and have strong cash flow — but when a bank looks at your tax return, they see a lower number than what you actually earn. That's because traditional mortgage underwriting uses your net taxable income after deductions, not your gross revenue or actual cash flow.

This creates a frustrating situation. The same tax strategy that saves you thousands every year can make it harder to qualify for a mortgage. Some brokers will tell you to "just claim more income" next year — bad advice that could cost you far more in taxes than you'd save on your mortgage.

The better approach is matching you with a loan program that evaluates your income the way it actually works. That's what Tetra Home Loans does. As a Certified Financial Planner™, we understand both sides of the equation — your tax strategy and your mortgage qualification — and we find a path that doesn't require you to sacrifice one for the other.

Non-Traditional Loan Programs

Multiple paths to qualification. We match you with the program that fits how you actually earn.

Bank Statement Loans

Qualify using 12 to 24 months of personal or business bank deposits instead of tax returns. Your income is calculated from average monthly deposits, which typically reflects your actual earning power better than a tax return does.

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Asset Depletion Mortgage

Qualify based on your liquid assets rather than monthly income. The lender divides your qualifying assets by the loan term to calculate income. Ideal for Grosse Pointe retirees and high-net-worth individuals with significant savings, investments, or retirement accounts.

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1099 Contractor Mortgage

Programs designed for independent contractors and freelancers who receive 1099 income. Qualification can use one or two years of 1099s combined with bank statements to document income, without requiring full tax return analysis.

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Non-QM Loans

Non-qualified mortgage programs that use alternative methods to verify your ability to repay. These are not subprime loans — they're designed for financially strong borrowers whose income documentation doesn't fit the standard agency mold.

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Mortgage with Recent Credit Event

Financing options for borrowers who've experienced a bankruptcy, foreclosure, short sale, or other credit event. Some Non-QM programs allow qualification much sooner than the waiting periods required by conventional lenders.

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Bridge Loan for Home Purchase

Short-term financing that lets you purchase a new home before your current one sells. Eliminates the need for contingent offers and gives you the flexibility to move on your timeline rather than waiting for a buyer.

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How We Work with Non-Traditional Borrowers

Most brokers treat non-traditional income borrowers as an exception. At Tetra, it's a core part of what we do. Here's the process:

1

Income Strategy Session

We review your full financial picture — tax returns, bank statements, assets, business structure — and identify which qualification method gives you the strongest position.

2

Program Matching

We compare options across multiple lenders who specialize in non-traditional income. Not every lender offers bank statement or asset depletion programs — we know which ones do and what they require.

3

Close with Confidence

We prepare your documentation package to match exactly what the underwriter needs, reducing back-and-forth and keeping your closing on track. No surprises, no stalls.

Self-Employed Mortgage FAQ

Can I get a mortgage if I'm self-employed?

Yes. Self-employed borrowers can qualify for a mortgage through several paths including bank statement loans, tax return-based qualification, and asset depletion programs. The key is working with a broker who understands how to document self-employed income in a way that maximizes your borrowing power without inflating your tax burden.

What is a bank statement loan?

A bank statement loan uses 12 to 24 months of personal or business bank deposits to qualify your income instead of tax returns. This is especially valuable for self-employed borrowers whose tax returns show lower income due to legitimate business deductions. The lender calculates your qualifying income based on average monthly deposits.

What is an asset depletion mortgage?

An asset depletion mortgage allows borrowers to qualify based on liquid assets rather than traditional income. The lender divides your total qualifying assets by the loan term to calculate a monthly income figure. This is a common solution for retirees and high-net-worth individuals in Grosse Pointe who have significant savings but limited monthly income on paper.

Do I need two years of self-employment history to get a mortgage?

Not always. While most conventional lenders require two years of self-employment history, some programs accept one year if you were previously employed in the same field. Non-QM loan programs may have even more flexibility depending on the strength of your overall financial profile.

What is a Non-QM loan?

A Non-QM (non-qualified mortgage) loan is any mortgage that does not meet the standard qualified mortgage guidelines set by the Consumer Financial Protection Bureau. These loans offer more flexible qualification criteria for borrowers with non-traditional income, recent credit events, or unique financial profiles. They are not subprime loans — they simply use alternative methods to verify a borrower's ability to repay.

Can I get a mortgage with a recent bankruptcy or foreclosure?

Yes, depending on timing and circumstances. Some Non-QM programs allow financing as early as one day after a bankruptcy discharge or foreclosure completion. Conventional and government-backed loans have waiting periods ranging from two to seven years. We evaluate your specific situation and match you with the right program.

I was denied by my bank. Can a mortgage broker still help me?

Often, yes. Banks are limited to their own lending guidelines. As a broker, Tetra Home Loans has access to dozens of lenders and non-traditional loan programs. What one lender declines, another may approve — especially when the borrower's situation requires creative structuring that a single bank isn't set up to handle.

Self-Employed? Don't Let Your Tax Return Define Your Mortgage.

Let's find the right loan program for how you actually earn — no obligation, no pressure.

313-380-4740
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