Yes — here’s how to qualify without the headaches.
If you’re self-employed, a business owner, or a high-earning freelancer, you already know the challenges that can come with mortgage financing — even when your income is strong.
But what happens when you need a jumbo loan?
👉 Good news: You can absolutely qualify for a jumbo mortgage if you’re self-employed — but the documentation and strategy matter more than ever.
Here’s what lenders are looking for, and how to position yourself for a smooth approval.
✅ What Is a Jumbo Loan?
A jumbo loan is any mortgage that exceeds your county’s conforming loan limit — which in 2025 is:
- $806,500 in most areas
- Up to $1,209,750 in high-cost counties
These loans aren’t backed by Fannie Mae or Freddie Mac, which means lenders apply stricter qualification standards — especially for self-employed borrowers.
💡 Key Challenges for Self-Employed Borrowers
Even high-income entrepreneurs can face hurdles with jumbo loans because:
- You write off expenses (reducing taxable income)
- Your income may vary month to month or year to year
- Your business may have growth spurts and dry spells
- Lenders require proof of consistency and stability
That’s where smart documentation comes in.
✅ What You’ll Need to Qualify
To get approved for a jumbo loan as a self-employed borrower, you typically need:
📄 Income Documentation
- 2 years of personal and business tax returns
- Year-to-date P&L statement
- Business license or entity verification
- CPA-prepared statements (in some cases)
- Business bank statements (if using bank statement program)
💬 Some programs allow for 12–24 months of bank statements instead of tax returns — ask us about non-QM jumbo options.
💳 Credit & Assets
- Credit score: Typically 680–700+
- Down payment: 10–20% (more for higher loan amounts)
- Reserves: 6–12+ months of housing payments in liquid assets
If you’re using business funds for your down payment or reserves, they must be clearly documented and allowable per underwriting guidelines.
🧠 What Lenders Look For
- Stable income trends — not steep declines
- Sufficient cash flow from business operations
- Strong liquidity post-close
- Low to moderate debt-to-income ratio (ideally under 43%)
📘 The better your paperwork, the more flexibility you’ll have with loan structure and terms.
🏢 Why PRMI?
At PRMI, we work with self-employed jumbo borrowers every day and offer:
- Traditional jumbo loans (full-doc)
- Bank statement jumbo programs (no tax returns)
- Non-QM jumbo options for unique income scenarios
- In-house underwriting that understands entrepreneurship
We’ll help you present your income in the strongest light — and guide you through every step of the process.
👇 Self-Employed and Need a Jumbo Mortgage?
Let’s review your tax returns, bank statements, and business profile — and create a jumbo financing strategy that works for you.