Self-Employed Non-Permanent Resident: What Do You Do When You Can't Get A Home Loan?

This image is for illustrative purposes only and does not depict an actual borrower.

“I was not only an SMB {Small Business} Owner, I was also a tax anomaly (non-permanent resident taxed as resident) and had been living in the country for only 1 year. Six lenders gave up on me until I found the one who made it work. Yes, I took a 5.9% rate when everyone was getting 4%… But Todd got me in!”

—Julian

Julian arrived in South Florida from South America just over a year prior, eager to settle his family into a good school district. Although his new business was thriving—already employing 18 people—he found it nearly impossible to secure a traditional mortgage. With no W-2s, no 1099s, and a brief U.S. residency history, six lenders turned him down.

Seeing Julian’s potential and success, I suggested a Non-QM (Non-Qualified Mortgage) program that uses bank statements to verify income. This approach, while often carrying a higher interest rate and more detailed underwriting, was the right fit for Julian’s situation: his business had solid cash flow, and he had savings to supplement his application.

Despite the extra documentation required, we closed on his loan within 34 days. The interest rate of 5.9% was higher than the general market’s 4.5%, but for Julian, it was worth it to own a home in the location he wanted—and it was still competitive given his limited credit history and unique tax status. His perseverance paid off, proving that even when traditional avenues say “no,” there are specialized loan options that can help you achieve your homeownership goals.