Self-Employed Mortgages in Paramus, NJ
Own a business in Bergen County? We specialize in mortgages for entrepreneurs, 1099 contractors, and business owners. Get approved using bank statements, P&L reports, or alternative income documentation – no tax returns required.
NMLS #1577754 | Specialized Business Owner Financing
Quick Qualification Check
2+ Years in Business
Established business history preferred
620+ Credit Score
Some programs available from 580
10-20% Down Payment
Higher down payment improves terms
Positive Cash Flow
Consistent deposits in business accounts
No Tax Returns? No problem! We have multiple programs that qualify you based on actual cash flow, not taxable income.
Mortgage Programs for Paramus Business Owners
Traditional lenders don't understand business owners. We do. Choose from multiple programs designed specifically for self-employed borrowers.
Bank Statement Loans
Use 12-24 months of business bank statements instead of tax returns
- No tax returns required
- 12 or 24 month bank statement options
- Personal or business accounts accepted
- Up to 90% LTV available
Best For:
Business owners with strong cash flow but significant tax deductions
P&L Statement Programs
Qualify using profit & loss statements prepared by your CPA
- CPA-prepared P&L accepted
- Year-to-date income qualification
- Ideal for newer businesses
- Combine with bank statements
Best For:
Established businesses with consistent profitability
Asset Depletion Loans
Use your business and personal assets to qualify for a mortgage
- Convert assets to income
- Retirement & investment accounts
- Business equipment value
- No employment verification
Best For:
High net worth individuals with substantial assets
1099 Income Programs
Designed for independent contractors and gig economy workers
- 1099 forms accepted
- 2 years income history
- Multiple income sources OK
- Flexible DTI calculations
Best For:
Consultants, contractors, and freelancers with steady 1099 income
Why Paramus Business Owners Choose Our Programs
Higher Approval Amounts
Qualify based on gross deposits, not net income after deductions
Tax Strategy Friendly
Keep maximizing deductions while still qualifying for your mortgage
Competitive Rates
Rates comparable to traditional loans with the right qualifications
How Bank Statement Loans Work
The most popular option for Paramus business owners. We analyze your actual cash flow instead of taxable income, giving you the borrowing power you deserve.
Provide Bank Statements
Submit 12-24 months of business or personal bank statements
Income Calculation
We calculate qualifying income from your deposits (typically 50-100% of gross)
Underwriting Review
Quick review process focused on cash flow stability
Loan Approval
Close in 30-45 days with full mortgage approval
Income Calculation Example
Paramus Restaurant Owner
IT Consultant (1099)
*Actual calculations vary by lender and business type. These are illustrative examples.
Serving All Paramus Business Owners
From Route 17 retailers to professional services, we understand the unique needs of Bergen County's diverse business community.
Real Estate Professionals
Agents, brokers, property managers, investors
Healthcare Providers
Doctors, dentists, therapists, medical practices
Professional Services
Lawyers, accountants, consultants, architects
Creative Professionals
Designers, photographers, artists, content creators
Tech Entrepreneurs
Software developers, IT consultants, startup founders
Retail & Restaurant
Store owners, restaurant operators, franchise owners
Special Programs for Paramus Mall Retailers
Own a store in Garden State Plaza or Paramus Park? We understand seasonal revenue patterns and inventory financing needs unique to retail businesses.
- Seasonal income averaging available
- Consider peak season revenues
- Franchise-specific programs
Paramus Business Stats
Retail Businesses
2,500+
Professional Services
850+
Average Business Income
$385,000
Smart Tax Strategies for Mortgage Qualification
Don't sacrifice your tax deductions for mortgage qualification. Learn how to optimize both with strategic planning.
Timing Your Application
- Apply early in the year before major deductions
- Consider qualifying before equipment purchases
- Plan around depreciation schedules
- Coordinate with your CPA on timing
Income Documentation
- Maintain separate business accounts
- Keep detailed records of deposits
- Document recurring client payments
- Track seasonal income patterns
Expense Management
- Identify add-backs for qualification
- Document one-time expenses
- Separate personal from business expenses
- Highlight non-cash deductions
Pro Tip: Add-Backs Can Boost Your Qualifying Income
Many business expenses can be "added back" to your income for mortgage qualification:
- • Depreciation (non-cash expense)
- • One-time business expenses
- • Business use of home deduction
- • Employer retirement contributions
- • Business meals and entertainment
- • Auto expenses for business
- • Interest on business loans
- • Owner's health insurance
Documentation Checklist for Self-Employed Borrowers
Bank Statement Loans
- 12-24 months bank statements (all pages)
- Business license or registration
- CPA letter confirming self-employment
- Driver's license and SSN card
P&L Programs
- Year-to-date P&L (CPA prepared)
- Prior year P&L statement
- Balance sheet (if available)
- 3 months business bank statements
1099 Income
- 2 years of 1099 forms
- Current year income documentation
- Client contracts (if applicable)
- Business expense documentation
All Programs
- 2 months asset statements
- Purchase contract (if buying)
- Homeowners insurance quote
- Photo ID and proof of SSN
Tip: Organize documents by month and keep all pages together. Digital PDFs are preferred for faster processing. We can help you gather everything needed.
Success Stories from Paramus Business Owners
Real Estate Agent
Paramus
"Commission-based income made traditional lending impossible. Bank statement loan got me approved for $950K using my actual earnings, not my tax returns."
Loan Amount: $950,000
Program: 12-Month Bank Statement
Medical Practice Owner
Route 17 Corridor
"New practice with heavy equipment depreciation. P&L program looked at actual profitability, qualifying us for our dream home in Paramus."
Loan Amount: $1,250,000
Program: P&L Statement Loan
Tech Consultant
1099 Contractor
"Multiple 1099s from different clients. They combined all my income streams and got me approved in just 3 weeks. Incredible service!"
Loan Amount: $725,000
Program: 1099 Income Program
Ready to Buy Your Paramus Home?
Stop letting tax deductions prevent you from homeownership. Our self-employed mortgage programs qualify you based on your true earning power.
Get Started in Minutes:
- Free consultation to review your business structure
- Quick pre-qualification based on bank deposits
- Multiple loan options with competitive rates
- Close in 30-45 days with full approval
NMLS #1577754 | Equal Housing Lender | Licensed in New Jersey
Specializing in Non-QM and Bank Statement Loans