Self-Employed Mortgages in Pennsylvania

Can I use business funds for my down payment?

Many programs allow it, but lenders usually want to confirm that withdrawing the money will not harm the business. That may mean a CPA or tax preparer letter, a cash flow review, or simply showing the business has enough left after the withdrawal. Moving funds into a personal account well ahead of applying can make sourcing simpler. Ask your loan officer how they handle it.

Can I refinance if I am self-employed?

Yes, you may be eligible to refinance using either full documentation or an alternative-doc program. The lender will want current income records, a value estimate on the home and a review of credit. If your newer returns are stronger than when you bought, pricing a full-doc refinance alongside an alternative-doc option is worthwhile. Cash-out refinances often come with tighter limits.

How do you get a mortgage when you are self-employed?

You document your income either with tax returns, which is the full-documentation route, or with alternative records such as bank statements, a P&L, 1099 forms or assets. A lender builds a qualifying income figure from those records and compares it with your debts. The right route usually depends on how closely your returns reflect your real cash flow. All loans are subject to credit approval.