Self-employed home loans across Collingsworth County
If you run a business, contract, or freelance in Collingsworth County, a conventional lender's reliance on tax returns can work against you. Bank statement loans count your actual cash flow — often 50% of business deposits or 100% of personal — to get you qualified. Many borrowers buy now and refinance into a conventional loan once their tax picture strengthens. Our specialists work with self-employed borrowers throughout Collingsworth County, including Wellington and nearby areas.
Collingsworth County at a glance
In Collingsworth County, the median household income is about $55,421 (2024). Against those numbers, qualifying on deposits instead of tax returns is what lets local self-employed buyers actually reach the price they can afford.
Who qualifies in Collingsworth County
- Self-employed 2+ years preferred (1–2 years can work with a strong history)
- Qualify on 12–24 months of bank statements instead of tax returns
- Write-offs that cut your taxable income don't cut your qualifying income
- Built for 1099 contractors, realtors, gig workers, and small-business owners
If you run a business or earn 1099 income in Collingsworth County, a quick check turns your recent deposits into an estimated qualifying income — often far more than your tax return suggests.
ITIN loans: no Social Security number required
Taxpayers who file with an IRS-issued ITIN can buy a home through ITIN mortgage programs — typically 10-20% down, two years of work history, and credit shown by score or alternative trade lines like rent and utilities. Self-employed ITIN borrowers can often qualify with bank statements.
12 vs. 24 months of statements
Lenders accept either 12 or 24 months of personal or business statements. Twelve months gets you to the finish line faster, while 24 months smooths out seasonal swings and often produces a higher, more defensible qualifying income.
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.