People across Virginia leave salaried jobs to work for themselves every day, and many want to buy a home before their business has a long track record. A short self-employment history makes qualifying harder, but borrowers who stayed in the same line of work may be eligible through some alternative-documentation programs. How much history each lender wants varies, so comparing options for your Virginia home is worth the effort. Gather your old W-2s and your business statements first, since the connection between them is what an underwriter will look for.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Lenders often confirm that your business is active. In Virginia, business entity records are searchable through the Virginia State Corporation Commission, Clerk's Office. If a CPA prepares your expense letter or P&L, the lender may check the license with the Virginia Board of Accountancy.
Where the numbers point in Virginia
Counties with the most self-employed workers:
| County | Self-employed workers |
|---|---|
| Fairfax County | 57,417 |
| Prince William County | 21,123 |
| the City of Virginia Beach | 20,909 |
| Loudoun County | 20,300 |
| Chesterfield County | 15,040 |
| Henrico County | 14,968 |
| the City of Chesapeake | 10,197 |
| Arlington County | 10,076 |
| the City of Richmond | 9,755 |
| the City of Alexandria | 7,245 |
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Virginia
- Bank statement loans in Virginia Beach
- Bank statement loans in Richmond
- Bank statement loans in Chesapeake
- Bank statement loans in Norfolk
- Bank statement loans in Arlington
- Bank statement loans in Roanoke
- Bank statement loans in Newport News
- Bank statement loans in Fredericksburg
- Bank statement loans in Alexandria
- Bank statement loans in Hampton
- Bank statement loans in Lynchburg
- Bank statement loans in Charlottesville
- Bank statement loans in Portsmouth
- Bank statement loans in Suffolk
- Bank statement loans in Blacksburg
- Bank statement loans in Williamsburg
- Bank statement loans in Winchester
- Bank statement loans in Centreville
- Bank statement loans in Dale City
- Bank statement loans in Harrisonburg
- Bank statement loans in Reston
- Bank statement loans in Staunton
- Bank statement loans in Leesburg
- Bank statement loans in Ashburn
- Bank statement loans in Tuckahoe
- Bank statement loans in McLean
- Bank statement loans in Danville
- Bank statement loans in Lake Ridge
- Bank statement loans in Annandale
- Bank statement loans in Burke
Common questions
Why does it matter that I did the same work before?
Continuity is the main way a lender judges whether new business income will last. If you did the same job as an employee, with the same skills, license or clients, your earlier work history helps support the business's short record. A move into an unrelated field leaves the lender with less to rely on, which usually makes qualifying harder.
Can I get a mortgage if I have been self-employed less than 1 year?
It is possible but difficult. Some non-QM programs may consider a very short history when you worked in the same field before and your business income is steady, while many lenders will want a longer record. Asset depletion is another path because it does not rely on business income. Programs differ, and all loans are subject to credit approval.
Should I wait until I have filed business tax returns?
Waiting can open more lenders and agency programs, which often price lower, and a filed return gives underwriters a clearer picture. Applying sooner may make sense if you need to move or if a non-QM program fits well. How your first returns are prepared also matters for future qualifying, so talk to a tax professional.
Other non-QM options in Virginia
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansAsset depletionNo-doc / stated incomeITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only
Related guides
- Getting a Mortgage When You Have Been Self-Employed Less Than Two Years
- How to Get a Mortgage When You Are Self-Employed
- CPA Letters for Mortgages: What They Are For and What They Can Say
Self-Employed Less Than 2 Years overview · Virginia non-QM overview
- Census ACS 2020-2024, table B24080