I’m curious to hear from people who’ve actually gone through this. Has anyone here managed to get approved for a loan while being self-employed and dealing with bad credit? It feels like traditional lenders expect perfect tax returns, steady W-2 income, and spotless credit scores—things many of us self-employed folks simply don’t have.
I’ve been digging into options for loans for self employed with bad credit, and it looks like there are a few programs designed for people with non-traditional income. Some examples I came across include:
- Bank statement mortgages (12–24 months of deposits instead of tax returns)
- No tax return loans for people whose taxable income looks too low because of write-offs
- Portfolio and non-QM mortgages that allow flexible credit guidelines
- Personal loan no tax return options for smaller financial needs
- Even personal loans for H1B visa holders if someone is self-employed on a work visa
I also noticed that certain...