Can I get a mortgage with 1 year self-employment?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Sometimes. Standard guidelines want two years of self-employment, but with a strong prior history in the same field, certain conventional and non-QM programs allow just one year of self-employment.
A one-year bank statement loan is another route. We'll review your prior W-2 work in the same line of business and tell you which one-year-friendly program you can use.
Sometimes, yes
It is possible to get a mortgage with just one year of self-employment. Some conventional loans allow it if your business is strong, profitable, and in the same field as prior work.
The key is showing continuity. If you were a W-2 electrician and now run your own electrical business, one year can be enough.
Loans that skip the two-year rule
Bank statement and 1099 loans often accept a shorter history because they focus on current cash flow rather than a long tax record.
One year of self-employment does not have to stop you. Reach out and we will find the loan that works with your timeline.
Verify the details for your own situation against these government and agency sources: IRS ITIN overview and CFPB non-QM explainer.