2025 guide for America’s 10 million self-employed borrowers
By: Darrin Seppinni | Published: 2025-07-03 08:58:00 | Source: www.housingwire.com
Why traditional income docs fall short — and why demand is rising
Tax returns often understate self-employed income because of legal deductions and fluctuating revenue. Conventional underwriting can therefore misrepresent a borrower’s true ability to repay. Bank Statement Loans solve this by measuring real deposit-giving lenders with a clearer picture of sustainable earnings.
The trend: America’s independent workforce keeps expanding. In 2024, 72.7 million people — about 42 percent of the U.S. workforce — earned income as independent workers mbopartners.com. By May 2025, roughly 10 million workers were classified as unincorporated self-employed in the Bureau of Labor Statistics’ household survey, returning to pre-pandemic highs bls.gov. More borrowers than ever…
