Qualify on deposits, not tax returns, in Baylor County
Business owners and 1099 earners in Baylor County have options beyond the conventional box. Bank statement, 1099, and P&L loan programs qualify you on real income, your deposits, so write-offs don't sink your application. Many borrowers buy now and refinance into a conventional loan once their tax picture strengthens. Our specialists work with self-employed borrowers throughout Baylor County, including Seymour and nearby areas.
Baylor County at a glance
In Baylor County, the median household income is about $54,002 (2024). A bank statement loan counts real cash flow, so strong deposits can support a home at the local price even when taxable income looks low.
Who qualifies in Baylor County
- Roughly 50% of business-account deposits counted as qualifying income
- Qualify on 12-24 months of bank statements instead of tax returns
- Self-employed 2+ years preferred (1-2 years can work with a strong history)
- Built for 1099 contractors, realtors, gig workers, and small-business owners
Business owners across Baylor County turned down on a conventional loan often qualify here on deposits alone, the check is free and there's no obligation.
Primary, second home, or investment
These loans aren't just for primary residences, second homes and investment properties qualify too. Pair a bank-statement loan for your own home with a DSCR loan for rentals and you can keep growing without ever showing a tax return.
P&L-only loan options
Some self-employed borrowers qualify with a CPA-prepared profit-and-loss statement, sometimes paired with a couple months of statements. A P&L loan is another non-QM path when your deposits alone don't capture the whole picture.
Texas's 80% cash-out rule
Texas homestead law caps cash-out refinances on a primary residence at 80% of the home's value, you must keep at least 20% equity. It applies to every loan type, including bank-statement loans, so plan your cash-out around that ceiling.