• Skip to main navigation
  • Skip to content
  • Skip to footer

Talk To Cathy Now!

Have a question? Give me a call at 239.821.7926, or you can click here for more options to call or email and I will contact you right away.

Marco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury HomesMarco Island Condos, Marco Island Real Estate, Marco Island Homes for Sale, Marco Island Luxury Homes

Marco Island Real Estate

  • SEARCH
    • Join Deal Alert
    • Advanced Search
    • Newly Listed Homes
    • My Featured Properties
    • Upcoming Open Houses
    • Interactive Map Search
    • Search by Listing ID
    • Search by Address
    • My Favorites
  • CONDOS
    • Marco Island ALL Condo Directory
    • Beachfront Condos
    • Waterfront Condos
    • Golf Course Condos
    • Inland Condos
    • Gated Condos
    • Condos with a Boat Dock
    • South End Condos
    • Old Marco Condos
    • Luxury Condos
    • Water Direct Condos
  • HOMES
    • Beachfront Homes
    • Gulf Homes
    • Golf Homes
    • Inland Homes
    • Water Direct Homes
    • Water Indirect Homes
  • AREAS
  • MARKET REPORT
    • Current Market Report
    • What’s Your Home Worth?
  • GALLERY
  • RESOURCES
    • About Marco Island
    • Explore Marco Island Real Estate
    • Video Tour
    • Golf Courses
    • Attractions
    • Area Links
    • Churches
    • Dining
    • Mortgage Calculator
  • ABOUT
    • About Cathy
    • Property Videos
    • Reviews
    • “Women in Business”
    • Why List with Me?
  • BLOG
  • CONTACT
  • 239.821.7926
SearchClose

Are There Loan Products For The Self-Employed?

Proving income for mortgage qualification when you’re self employed has been an enormous challenge. Proving income is used to demonstrate a person’s ability to be able to afford their mortgage. The issue for the self-employed homebuyer is that net income on their tax returns shows what money they’ve chosen to set aside in any particular year for their own personal use. Good business owners put as much of their profits back into the business as they can afford. It keeps taxes down to lower profits, so even when gross income is high, they often don’t keep the money for their own personal use. Instead, they buy a new point-of-sale computer, upgrade office furniture, or stock up on supplies. There are many way to spend surplus cash on a business and business owners see this, rightfully, as an investment in their business’s future.

Mortgage companies want to see that a homebuyer has ample extra cash for personal use if they need it. So, they have traditionally looked at two years of tax returns. That means that if a self-employed person wants to show that they have enough extra income to comfortably afford a home, they have to start keeping profits for their own use for two years instead of adding all extra money back into the business.

This never made sense to the business owner nor to the mortgage brokers, but it was the way it worked. Around one-tenth of the nation’s workforce is self employed. So, this is a large group of potential homebuyers being forced to make unwise financial decisions just to prove that they can afford a home that everyone knows they can afford.

Finally, banks have started changing with the times. Now, there are loan products that allow self-employed workers to skip the tax return income proving and show their income using bank statements. These bank statement loans are the most accurate way to show a person’s available income. By taking two years of deposits, instead of two years of net income, lenders are able to see how much money the self-employed homebuyer actually has at their disposal.

If you’re self employed and have been denied a mortgage based on your tax returns, ask your lender to look into a bank statement loan and then come talk to us. A Marco Island home of your dreams could be just a couple months away.

 

205 S. BEACH Drive
$4,799,000
  • 4 Bedrooms
  • 5 Bathrooms
  • 8,910 Sq Ft
  • 0.260 Acres

205 S. BEACH Drive MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

866 HYACINTH Court
$4,295,000
  • 4 Bedrooms
  • 8 Bathrooms
  • 7,995 Sq Ft
  • 0.250 Acres

866 HYACINTH Court MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

800 W COPELAND Drive
$3,875,000
  • 6 Bedrooms
  • 8 Bathrooms
  • 8,658 Sq Ft
  • 0.500 Acres

800 W COPELAND Drive MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

355 GUMBO LIMBO Lane
$2,350,000
  • 5 Bedrooms
  • 5 Bathrooms
  • 7,099 Sq Ft
  • 0.380 Acres

355 GUMBO LIMBO Lane MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

833 MAGNOLIA Court
$2,100,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 2,755 Sq Ft
  • 0.200 Acres

833 MAGNOLIA Court MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

960 CAPE MARCO Drive 1101
$2,050,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 3,447 Sq Ft

960 CAPE MARCO Drive 1101 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

2000 ROYAL MARCO Way 15
$1,950,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 3,099 Sq Ft

2000 ROYAL MARCO Way 15 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

4000 ROYAL MARCO Way 623
$1,650,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 3,847 Sq Ft

4000 ROYAL MARCO Way 623 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

1069 BALD EAGLE Drive 1002
$949,000
  • 3 Bedrooms
  • 2 Bathrooms
  • 2,635 Sq Ft

1069 BALD EAGLE Drive 1002 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

3000 ROYAL MARCO Way 321
$695,000
  • 3 Bedrooms
  • 3 Bathrooms
  • 3,043 Sq Ft

3000 ROYAL MARCO Way 321 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

992 ROYAL MARCO Way 0
$5,700,000
  • 0 Bedrooms
  • 0 Sq Ft
  • 0.450 Acres

992 ROYAL MARCO Way 0 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

395 WILD COFFEE Lane 0
$449,000
  • 0 Bedrooms
  • 0 Sq Ft
  • 0.340 Acres

395 WILD COFFEE Lane 0 MARCO ISLAND, Florida

View Property

Listing courtesy of PREMIER SOTHEBY`S INTERNATIONAL REALTY

Are You Buying a Home on Marco Island?

Considering buying a home on Marco Island? We’d love to help you find one that’s just right for your needs.

First, check out available Marco Island area properties using this helpful search tool. If it’s easier, you can just call us at 239-821-7926 or get in touch with us online to let us know what you’re looking for. We’re happy to contact you however you prefer. Then, we’ll start searching our databases right away using criteria you specify!

In the meantime, you can also easily explore Marco Island real estate by price:

  • Marco Island homes for sale from $100k to $200k
  • Marco Island homes for sale from $200k to $300k
  • Marco Island homes for sale from $300k to $400k
  • Marco Island homes for sale from $400k to $500k
  • Marco Island homes for sale from $500k to $600k
  • Marco Island homes for sale from $600k to $700k
  • Marco Island homes for sale from $700k to $800k
  • Marco Island homes for sale from $800k to $900k
  • Marco Island homes for sale from $900k to $1 million
  • Marco Island homes for sale over $1 million

Also, to stay current on the latest listing and community events, connect with your Marco Island area expert on Facebook or Twitter!

Posted in: Uncategorized Tagged: bank statement loans, income proof for self employed, Mortgages, self emploement

Join Property Alert

Did you know the hottest homes for sale on Marco Island often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

JOIN PROPERTY ALERT

As a local Marco Island resident & Real Estate Agent I also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

Post navigation

« Top 3 Tiki Bars Near Marco Island
Which Is A Better Indicator? APR or Interest Rate? What’s The Difference? »

Contact Us Now



239.821.7926

cathy.rogers@premiersir.com

760 N. Collier Blvd., #101,
Marco Island, FL 34145

Join Deal Alert

Get New Properties & Price Update Alerts sent straight to your inbox

Favorites

Login to manage your Favorites, Save Properties & Searches

Property Search

Find Condos using the most powerful Search tool in Marco Island

FREE Home Valuation

Find out the TRUE value of your condo and what other condos in your neighborhood are selling for

AREAS I COVER

34145, Condos, Beachfront Condos, Water Direct Homes, Marco Island Inland Homes, Water Indirect Homes, Marco Island Inland Condos, Golf Course Homes, Gulf Condos, Marco Island Golf Course Condos, Beachfront Condos, Tigertail Beach, Hideaway Beach Real Estate, Key Marco, Old Marco, Cape Marco, South End, River Area

Connect with Us

© 2021 · Cathy Rogers · 239.821.7926 · Privacy Policy · Marco Island Real Estate

Disclaimer - All Rights Reserved by Cathy Rogers, Premier Sotheby's International Realty, Licensed in Florida · Marco Island Condos & Homes for sale · Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each office is independently owned and operated. Equal Housing Opportunity. · Sitemap · IDX Sitemap · IDX XML Sitemap

Log in · Real Estate Website by Real Estate Websites by YourSiteNeedsMe.com