Business owners, freelancers, and 1099 earners in Columbus and across Ohio often have real income that a simple W-2 review misses. There is more than one way to document that income — and finding the right one is what a thoughtful loan officer is for.
The most familiar path. We review your personal and business tax returns to calculate qualifying income under conventional, FHA, or VA guidelines.
For borrowers whose deposits tell a stronger story than their net tax return. Programs vary by investor in how many months are reviewed and how income is calculated.
Some programs allow qualifying income to be derived from a business profit-and-loss statement, often paired with supporting documentation such as bank statements or a CPA letter.
If most of your income arrives on 1099s, there are programs designed to use those forms directly rather than requiring full tax-return analysis.
Deductions that reduce your tax bill can also reduce the income used to qualify on traditional loans. Understanding this early helps us pick the documentation path that best reflects your real earnings.
Every investor sets its own guidelines for documentation, reserves, pricing, and down payment. That is why a real conversation — not a generic checklist — is the right starting point.
Use the interactive mortgage calculator to explore price, down payment, taxes, and insurance for a Central Ohio scenario.
Often yes — but the way your qualifying income is calculated depends on the program. Traditional loans typically use net income after write-offs, while alternative-documentation programs may look at deposits, profit-and-loss statements, or 1099 income instead. We'll compare the paths that fit your situation.
Bank-statement programs use a defined number of months of business or personal bank deposits to estimate qualifying income, rather than relying solely on tax returns. Each investor sets its own guidelines for the number of months reviewed, how deposits are counted, and how expenses are estimated.
Some programs are designed specifically for 1099 earners and calculate qualifying income from 1099 statements rather than tax returns. Documentation still matters — we'll walk through what will be needed for the programs you're considering.
Many programs look for a two-year self-employment history, though some may consider shorter histories with the right supporting documentation. Guidelines vary by program and change over time, so this is one of the first things we'll review.
Pricing, down payment, credit, and reserve requirements for alternative-documentation programs are typically different from standard conventional loans and vary by investor and by scenario. We'll compare specifics based on your goals rather than promising a single number up front.
A 30-minute conversation with Ben — no pressure, no obligation. Bring your questions and leave with a clearer plan.
Ben Harris · Loan Officer · Union Home Mortgage · NMLS #2541330
Programs, guidelines and availability are subject to change. This information is for educational purposes and is not a commitment to lend. All loans are subject to credit approval, underwriting approval and applicable program requirements.