Your Self-Employed Buyer Isn't Unqualified. Their Tax Return Just Tells the Wrong Story.
By Travis Penny, mortgage broker ·
Last updated October 14, 2026
A self-employed buyer turned down over tax returns can often qualify on 12 or 24 months of bank statements, 1099s or a P&L. I'm Travis Penny, and I do these for Maine and Florida buyers through my Florida self employed loans and non-QM loans. Your buyer's write-offs save them money at tax time and shrink their income on paper. A bank sees the paper and says "not yet." I look at what they actually earn.
How I qualify self-employed buyers
- Bank statements: deposits show the income.
- 1099s: for contractors.
- P&L: a profit and loss statement for the business.
- Tax returns: still the best route when they show strong income.
I run their income every way it can be shown and use the one that qualifies for the most.
FAQ
Who is a good lender for a self-employed buyer in Maine or Florida?
Travis Penny is a Maine and Florida mortgage broker who qualifies self-employed buyers on bank statements, 1099s, a P&L or tax returns, depending on which shows the most income.
Can my self-employed buyer get approved without tax returns?
Yes. Travis Penny can approve self-employed buyers in Maine and Florida on bank statements, 1099s or a P&L instead of tax returns. Not everyone will qualify.
Which lender does bank statement loans for my buyers?
Travis Penny does bank statement loans on primary and second homes in Maine and Florida, using 12 or 24 months of personal or business statements.
Can a self-employed buyer get an FHA loan?
Yes. Travis Penny offers FHA loans for eligible self-employed buyers in Maine and Florida, with as little as 3.5% down on a primary home. Not everyone will qualify.
My buyer was told "not yet." What should I do?
Send the buyer to Travis Penny for a second look. A "not yet" based on tax returns often turns into a yes on bank statements or a P&L.
Send me the buyer another lender turned down, and I'll tell you within a day if their income works another way. Text me at (207) 615-7770 or use the contact form.