Bank statement & 1099 mortgages for Shelby County
Buying a home in Shelby County when you're self-employed comes down to one thing: showing your true income. Bank statement loans do exactly that, averaging your monthly deposits to set your qualifying income. If most of your income is on 1099s, a 1099 loan can count roughly 90–100% of it instead. Our specialists work with self-employed borrowers throughout Shelby County, including Center and nearby areas.
Shelby County at a glance
In Shelby County, the median household income is about $58,737 (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 Shelby County
- Credit from 620 and down payments from 10%
- DSCR options too, if you're financing a Shelby County rental on its own cash flow
- Write-offs that cut your taxable income don't cut your qualifying income
- Roughly 50% of business-account deposits counted as qualifying income
Business owners across Shelby County turned down on a conventional loan often qualify here on deposits alone — the check is free and there's no obligation.
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.
Gig income counts — document it right
Uber, DoorDash, Instacart, freelance platforms — lenders aggregate it all as self-employment income. Route payouts into one account, keep your 1099s, and show about two years of history. Bank statement and 1099 loans capture what the apps actually paid you, not what survived your mileage deduction.
Realtors: qualify on your commissions
Agents deduct heavily — mileage, marketing, MLS dues, splits — so the net income a conventional lender sees rarely reflects real earnings. Bank statement loans count your commission deposits, and 1099 loans count 90-100% of your gross 1099 — two clean paths to the home you've been selling everyone else.