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Self-Employed Loans.

Get a FREE quote on an Self-Employed Loan & save thousands of dollars per year.

Program overview

The Lowdown on Self-Employed Loans…

Our Self-Employed Loan Rates Are Low & Our Process is Quick & Painless. An Self-Employed loan is a mortgage loan that is insured by the Federal Housing Administration (Self-Employed). Essentially, the federal government insures loans for Self-Employed-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments. The Self-Employed program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.

Why Self-Employed?

Why an Self-Employed Loan?

Typically an Self-Employed loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An Self-Employed down payment of 3.5% is required. Borrowers who cannot afford a traditional down payment of 20% or can't get approved for private mortgage insurance should look into Self-Employed loans.

Loan features

Self-Employed programs we offer.

Fixed Rates
Adjustable Rate (ARM)
3.5% Down Payments
Jumbo & Super Jumbo
Terms from 5 to 30 Years
Self-Employed eligibility

Who qualifies for an Self-Employed loan?

Self-Employed loans are one of the easiest types of mortgages to qualify for — low down payment and less-than-perfect credit are both okay.

  • 3.5% down payment minimum. A fraction of what conventional loans typically require.
  • Lower credit-score thresholds. Borrowers who can't get approved for private mortgage insurance should look at Self-Employed.
  • Down payment can be a gift. From a family member, employer, or charitable organization.
  • Owner-occupied properties only. Single-family, condos, 2–4 unit buildings (you live in one).
  • Self-Employed loan limits apply. Limits vary by county; we'll confirm yours during the rate quote.
  • Mortgage insurance premium (MIP) required. Upfront and monthly — the trade-off for the low down payment.
FAQ

Common questions answered.

Self-Employed officially accepts 580+. We may be able to work with lower scores if other compensating factors are strong. Call us to discuss your specific situation.
Yes. Self-Employed allows gifts from family members. We'll need a gift letter from the donor stating the funds are a gift with no repayment expectation.
Self-Employed insurance protects the lender if you default. You pay an upfront premium (typically 1.75%) and annual insurance premiums rolled into your monthly payment. This is how Self-Employed can approve lower-credit borrowers.
If your down payment is less than 10%, you pay insurance for the life of the loan. With 10% or more down, insurance drops after 11 years. You can also remove insurance by refinancing.
Limits vary by county and property type. Most counties in our service area range from $500K to $1M+. We'll confirm the exact limit for your property.
Yes. Self-Employed allows seller concessions up to 6% of the purchase price. This can reduce or eliminate your out-of-pocket costs at closing.

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For veterans

VA Loan

Zero down, no PMI. If you served, VA offers even better benefits than Self-Employed without mortgage insurance.

 Conventional option

30-Year Fixed

If your credit has improved, conventional loans offer no mortgage insurance with 20% down.

Ready to become a homeowner?

Self-Employed pre-approval takes minutes. We'll explain the insurance costs and walk you through the process.

Apply now Call (949) 296-0636