Self-Employed Loans

Self-Employed Loans offer flexible qualification options including bank statements, P&Ls, and asset utilization. Ideal for independent workers or business owners seeking home financing solutions with competitive terms and no mortgage insurance.

First Reliance Bank/Mortgages/Mortgage Loan Options/Self-Employed Loan

Why Choose a
a Self-Employed Loan?

These loans are designed for today’s entrepreneurs and gig workers. If your income doesn’t follow a traditional path, our Self-Employed Loan options can give you the flexibility and access you need to secure a mortgage that fits your situation.

Key Benefits:
Up to 90% LTV on purchases and rate/term refinances
Up to 80% LTV for cash-out, with proceeds up to $1.5 million allowed for reserves
No mortgage insurance required
Seller concessions allowed up to 6% on primary and secondary residences

Program Highlights

  • Full doc, 1099, 1-year P&L, 12 and 24-month bank statement income qualification available
  • Owner-occupied, second home or investment property
  • SFR, PUD, townhomes, 2–4 units, condos, non-warrantable condos, and rural
  • Up to 80% LTV for asset utilization on purchase and rate/term refinances
  • Max loan amounts up to $3.5 million
  • Up to 90% LTV purchase and rate and term
  • Up to 80% LTV for cash-out
  • Cash-out up to $1.5 million proceeds can be used for reserve requirements
  • 15-year fixed, 30-year fixed, 5/6 ARM
  • Delayed financing has no restrictions on cash-out amounts to recoup cash within 6 months
  • No mortgage insurance required
  • Seller concessions allowed up to 6% for primary residence and secondary homes
Key with a house icon hanging off of it.

Who Is Eligible?

You may qualify if:

  • You own your own business
  • You work as a freelancer
  • You work as an independent contractor
  • You are a sole proprietor or entrepreneur

Let's Make Financing
Work for You

Self-employment doesn’t have to mean complicated mortgage solutions. Let us help you choose the best path forward—tailored to how you earn.

Talk to a First Reliance Mortgage Specialist today to learn more.
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Why First Reliance Bank?

We’re more than just your bank—we’re your business partner. With personalized service, local decision-making, and a genuine commitment to your success, First Reliance Bank is a trusted resource for business owners throughout our community.

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