Creative Mortgage Solutions
For Self-Employed Borrowers and Real Estate Investors
From Florida to California, we have alternative lending options
for self-employed and investor borrowers that requires little to no income documentation
Stable Income? Check.
As a W-2 employee, your consistent paychecks and verifiable employment make qualifying for a mortgage faster and easier. Discover loan options designed for salaried professionals today!
Financing That Broadens Your Horizon
With over 20 years of mortgage experience, and countless scenarios, our one goal is to provide smarter financing solutions, regardless
of your real estate experience
Mortgage Refinance Prosper
Refinancing your mortgage in Prosper means replacing your existing home loan with a new one, typically to lower your interest rate, reduce monthly payments, or tap into your home's equity. For self-employed professionals, real estate investors, and business owners in the Prosper area, traditional refinancing can feel like an obstacle course-lenders demand years of tax returns, profit-and-loss statements, and income verification that doesn't fit your actual financial picture. Horizon Lending Services specializes in mortgage refinance solutions for borrowers who don't fit the conventional mold, offering bank statement loans, DSCR refinancing, and asset-based options that work with your real financial situation.
Prosper has grown into a thriving community north of Dallas, attracting entrepreneurs, freelancers, and business owners who value flexibility and opportunity. Many of these Prosper residents have built successful careers outside the traditional W-2 employment structure, yet when they want to refinance, they hit the same wall: lenders want documentation that doesn't exist in their world. That gap between what you actually earn and what traditional lenders will accept is exactly where Horizon Lending Services steps in.
Why Self-Employed Borrowers in Prosper Choose Alternative Refinancing
Self-employed professionals and business owners often earn more than they can document on a standard tax return, thanks to legitimate deductions and business expenses. A contractor, consultant, or small business owner in Prosper might show a lower taxable income on paper than their actual cash flow-and that mismatch disqualifies them from conventional refinancing, even though they are reliable borrowers with real income and home equity.
Horizon Lending Services uses bank statement and 1099 loan options to evaluate your true cash position. Instead of requiring two years of tax returns, these programs look at your actual deposits and business activity over a shorter period, typically 12 to 24 months. Because your real cash flow becomes the measure of your ability to pay, you can refinance based on what you actually earn, not what the IRS sees.
This approach works for:
- Freelancers and independent contractors
- Business owners and entrepreneurs
- Commission-based sales professionals
- Rental property owners seeking DSCR refinancing
- High-net-worth individuals with complex income structures
Mortgage Refinance Prosper Options: Comparing Your Real Choices
Not every refinancing solution works the same way or makes sense for every borrower. Your choice depends on your income type, how much equity you have, and what you are trying to achieve-whether that is lowering your monthly payment, accessing cash, or consolidating debt.
| Refinance Type | Best For | Documentation Required | Typical Use |
|---|---|---|---|
| Bank Statement Loan | Self-employed, freelancers, business owners | 12-24 months of bank statements | Lower rate, reduce payment, cash-out |
| DSCR Refinancing | Rental property investors | Lease agreements, property statements | Refinance investment properties based on income they generate |
| Asset-Based Loan | High-net-worth borrowers | Asset statements, bank statements | Access liquidity without proving current income |
| Conventional Refinance | W-2 employees with strong credit | Recent pay stubs, W-2s, tax returns | Best rates when income is easy to verify |
| Jumbo Refinancing | High-value properties ($1M+) | Varies; flexible for non-traditional income | Refinance expensive homes without rate penalty |
Horizon Lending Services works with all of these options, and the right choice depends on your situation. A business owner in Prosper who wants to refinance a rental property might use DSCR refinancing, which bases approval on the rental income the property generates rather than personal tax returns. Someone with significant assets but seasonal or variable income might qualify for an asset-based loan, where your net worth matters more than your latest tax return.
How the Refinancing Process Works with Minimal Documentation
The traditional mortgage process requires you to gather paperwork going back years, wait for verification from employers and banks, and hope the numbers align with what lenders expect. Horizon Lending Services streamlines this by focusing on documents that actually show your financial reality.
The process typically follows these steps:
- Initial Consultation: Share your situation-income type, home equity, refinancing goals-and receive a realistic assessment of your options.
- Document Gathering: Provide recent bank statements, proof of assets, or business financials rather than years of tax returns.
- Loan Program Match: You are matched with the program that fits your income type and situation, whether that is bank statement, DSCR, or asset-based.
- Underwriting and Approval: Your application moves through underwriting with emphasis on actual cash flow and equity position.
- Closing: Lock your new rate and finalize your refinance with minimal surprises or delays.
Because alternative lenders focus on recent cash activity rather than multi-year tax histories, the timeline is often shorter. A bank statement or DSCR refinance typically closes within 3 to 4 weeks, compared to 30 to 45 days for conventional refinancing-a meaningful difference if you are trying to lock in a favorable rate window.
Real Results for Prosper-Area Borrowers
Self-employed professionals and investors across Prosper have used Horizon Lending Services to access refinancing that traditional lenders rejected. A contractor who showed lower taxable income due to legitimate business deductions was able to refinance with a bank statement loan, lowering his payment by $300 per month. A rental property investor in Prosper used DSCR refinancing to tap equity in multiple properties without documenting personal income, freeing up capital for additional investments. A business owner with variable income but strong assets qualified for a jumbo refi on her primary home, accessing better rates than her existing lender would offer.
These are not outliers. Horizon Lending Services has spent over 20 years building lending relationships and alternative program options specifically because traditional underwriting fails too many qualified borrowers. If you live in Prosper and have built a successful career outside conventional employment, you are exactly the kind of borrower Horizon Lending Services was designed to serve.
If you are ready to explore refinancing options that recognize your real financial situation, reach out to Horizon Lending Services. Our team can review your situation, explain which programs align with your income type, and let you know what documentation you will actually need. There is no obligation to move forward, and you will have a clear sense of what is possible before you commit to anything.
Frequently Asked Questions
Can I refinance my mortgage in Prosper if I am self-employed?
Yes. Horizon Lending Services offers bank statement loans and 1099 refinancing programs specifically for self-employed borrowers. These programs evaluate your actual cash deposits over 12 to 24 months rather than requiring years of tax returns, making them ideal for business owners, freelancers, and contractors in Prosper.
What documents do I need to refinance with a bank statement loan?
Typically, 12 to 24 months of personal and business bank statements, proof of assets, and your loan details. You will not need to provide years of tax returns or employment verification. Horizon Lending Services reviews your actual cash flow to determine qualification.
How long does it take to refinance a mortgage in Prosper?
Alternative refinancing programs like bank statement and DSCR loans typically close within 3 to 4 weeks. Conventional refinancing usually takes 30 to 45 days. The faster timeline is one reason many Prosper borrowers choose non-traditional lenders when they qualify.
Can I refinance a rental property using DSCR lending?
Yes. DSCR (Debt Service Coverage Ratio) refinancing approves you based on the rental income your property generates, not your personal income. This is ideal for real estate investors who want to refinance investment properties without documenting personal finances.
What is the maximum loan amount for jumbo refinancing?
Horizon Lending Services offers jumbo refinancing up to $5 million. These loans are available for borrowers with high-value properties and can accommodate non-traditional income types, making them accessible to high-net-worth individuals who might not fit conventional jumbo lending criteria.
What if my income is from multiple sources or changes seasonally?
Horizon Lending Services evaluates borrowers with variable, seasonal, or multi-source income using bank statements and asset documentation rather than traditional income calculations. Asset-based loans are another option if your net worth is substantial, allowing you to refinance based on what you own rather than what you currently earn.
DSCR (Debt Service Coverage Ratio)
Maximize your portfolio potential with Non-QM loans designed for first time or savvy investors; no tax returns, just smart financing.
Self Employed
Our Self-Employed Non-QM Loans are designed for entrepreneurs, freelancers, and business owners who don’t fit the traditional lending mold. Qualify using bank statements, 1099s, a P&L or asset-based income. No Tax Returns or W2’s Required! 1 Year Self-Employed History Allowed!
VA
With a VA home loan, eligible veterans, active-duty service members, and surviving spouses can buy or refinance with zero down payment, no PMI, and competitive interest rates. Whether you’re purchasing your first home or refinancing, we make the process simple, fast, and tailored to your service.
Jumbo Loans
Unlock high-value properties with creative jumbo loan solutions up to $5 million; perfect for self-employed borrowers, luxury homebuyers, and investors with unique income streams. We go beyond the traditional box to deliver flexible financing that fits your vision.
First Time Buyer
Whether you’re eyeing an FHA loan with low down payment options or a Conventional loan with competitive rates, we help first-time home buyers navigate the path to homeownership with confidence. Get expert guidance, flexible financing, and personalized support every step of the way.
Cash-Out Refinance
Consolidate high-interest debt into one low monthly payment; using the equity you’ve already built. Pay off credit cards, personal loans, or medical bills, update your home, and regain control of your finances with a streamlined, cost-effective solution backed by competitive conventional rates.
We can’t thank Scott Simmons enough for all his help during both our original purchase of our home, as well as our recent refinancing. Scott was able to get us an incredible rate and was extremely detailed and explanatory the entire way. We, of course, had rookie questions being first-time home buyers, but he made himself available to answer and explain any of our questions and made helpful suggestions, as well as great advice given our individual situation. I highly recommend Scott for your mortgage needs!
Sarah Lati
Have always had a great experience with Horizon Lending Services. Scott and his team are the BEST! They helped us in 2021 with a refinance of our first home. Then this year they helped us with getting a loan for our property! Scott was patient and always willing to go over everything multiple times to ensure we understood everything. Kept us updated on status’ as well as just to check in.
Samantha Mellott
Just recently had the experience of working with Marcus on a loan for an investment property. Not only did he help me find the lowest cost strategy to purchase the property, he kept me updated, helped jumped through the various hurdles that came up to make sure we didn’t have any delays and the purchase was as smooth as possible. Marcus is an incredible lender and is my go to for any and all loan questions or needs
Richard Berman
Get In Touch
Send a Email
Fill our the form or shoot us a email at Loans@HorizonLendingServices.com
