How to Buy a Home with Just One Year of Self-Employment (Even if You’re a Freelancer)

Heard the rule that self-employed buyers need two years of income? It’s true—for most—but there’s a big exception.

You can buy a home with just one year of self-employment if:

• You’ve worked in the same industry before

• You show consistent or rising income

• You use a lender that offers non-traditional programs

Let’s break this down. Who Qualifies?

If you were a W2 employee in marketing for 3 years, then went freelance 12 months ago, lenders may count that as continuity of work. Same for gig workers who transition from rideshare driving to owning their own fleet.

But here’s the catch:
You need to show:

• At least 12 months of 1099 or Schedule C income

• A strong P&L statement or business bank statements

• Preferably, a CPA letter verifying your self-employed status

Bonus: Some lenders now offer bank statement loans that skip tax returns altogether.