Monday, January 27, 2025 / by Steven Boe
Self-Employed? You Can Still Buy a Home in Kitsap County!

Being self-employed doesn’t mean homeownership is out of reach. While the process might look slightly different from someone with a traditional W-2 income, self-employed individuals can absolutely secure a loan for their dream home in Kitsap County, WA. Here’s what you need to know to start the process and make your homeownership dreams a reality.
Where to Begin
The first step to buying a home as a self-employed individual is preparation. Lenders want to see stability and a clear picture of your finances. Follow these steps to get started:
- Organize Your Financial Documents: Gather at least two years of personal and business tax returns, profit and loss statements, and bank statements.
- Check Your Credit Score: A good credit score improves your chances of loan approval and better interest rates.
- Estimate Your Budget: Use online mortgage calculators or speak with a lender to determine how much home you can afford.
- Research Lenders: Not all lenders are familiar with self-employed borrowers. Look for lenders who specialize in working with entrepreneurs and freelancers.
Key Steps to Qualify
Here are positive actions you can take to improve your chances of securing a home loan:
- Show Consistent Income: Demonstrating steady or increasing income over the past two years reassures lenders.
- Reduce Debt: Lower your debt-to-income (DTI) ratio by paying down existing loans and credit card balances.
- Build Savings: A healthy savings account can cover your down payment, closing costs, and emergency expenses.
- Keep Business and Personal Finances Separate: This clarity makes it easier for lenders to evaluate your financial health.
- Work with a Mortgage Broker: A broker can connect you with lenders who understand the self-employed market.
Loan Options for Self-Employed Homebuyers
There are several loan types to consider:
- Conventional Loans: These often require a higher credit score and more documentation.
- FHA Loans: These government-backed loans are more lenient with credit scores and down payments.
- Bank Statement Loans: Ideal for self-employed individuals, these loans use bank statements to verify income instead of tax returns.
- VA Loans: If you’re a veteran, VA loans offer incredible benefits, including zero down payment.
Why Kitsap County?
Kitsap County, WA, offers beautiful landscapes, a strong sense of community, and a range of real estate options. Whether you’re looking for a waterfront property or a cozy suburban home, Kitsap County is an excellent place for self-employed individuals to call home.
Ready to Buy?
Don’t let being self-employed hold you back from achieving your real estate goals. Contact The Olsen Team at Keller Williams today for expert guidance and support. We’ll help you navigate the process and find the perfect home in Kitsap County, WA. Let’s make your dream home a reality!