We Have the Right Loan for Your New Home or Refinancing Needs
Whether you're buying a new home or looking to refinance, we offer a variety of home loan options designed to fit your needs and financial goals. Let us help you navigate the process with ease and find the right solution for your unique situation. We are licensed in the states of Missouri and Kansas and are proud to serve the surrounding communities of Harrisonville, Pleasant Hill, Lone Jack, Belton, Louisburg and all of Cass and Bates County with their home financing needs.
Home Loans Fit for Every Buyer
As a mortgage broker, we have a wide range of home loans available to fit every need, from First-Time Home Buyers to loans for veterans, and those that may have issues with their credit scores. Whatever the loan needs, we have made it our mission to help make home buying accessible for everyone.
Conventional Loans
These are the most widely used loans by home buyers. You can utilize conventional loans for most types of homes you choose to buy, from investment properties to primary and secondary residences. They are great loans for homebuyers with a solid credit score and a down payment. They are not backed by the government, offering flexible terms and potentially lower costs over the long term. They are ideal for buyers who want to avoid private mortgage insurance by putting down 20% or more.
Benefits:
Flexible loan terms, competitive interest rates, and no mortgage insurance if you meet the down payment requirement.
FHA Loans
FHA loans are backed by the Federal Housing Administration and are designed to be far more flexible and accommodating for buyers with lower credit scores or smaller down payments. With as little as 3.5% down, this is a great option for those looking to enter the housing market with more forgiving requirements and is great for first-time home buyers.
Benefits: As low as 3.5% down payment, easier qualification process, and flexible credit score requirements.
VA Loans (Veteran Loans)
Available to veterans, active military members, and their families, VA loans offer 100% financing with no down payment required. These loans come with favorable terms and don’t require private mortgage insurance (PMI), making homeownership accessible for those who have served. These loans are for primary residences only.
Benefits: No down payment, no PMI, competitive interest rates, and flexible credit requirements.
First-Time Home Buyer Loans
We have to admit, we love working with clients that are buying their very first home. It’s an exciting time, and while navigating the home-buying process can be daunting, our loan officers are happy to help answer any questions and are accessible at anytime, day or night.
Benefits: Low down payment options, flexible credit requirements, and access to special programs for first-time buyers.
USDA Loans (Rural Development Loans)
USDA loans are designed for buyers looking to purchase homes in eligible rural areas. These loans offer 100% financing, meaning no down payment is required, and come with lower interest rates to encourage rural development.
Benefits: $0 down payment, low-interest rates, and support for homebuyers in rural communities.
Jumbo Loans (Luxury Homes)
A Jumbo Loan is perfect for buyers looking to purchase luxury homes that exceed the conventional loan limits. These loans offer financing for higher-priced properties but often come with stricter credit score and income requirements.
Benefits: Finance larger homes with a single loan, competitive rates for high-value properties, and no need for multiple loans.
Self-Employment Mortgage Loans
Flexible Mortgage Options for Business Owners, Contractors, and 1099 Earners
At Blue Collar Mortgage, we understand that not every hardworking borrower fits inside the traditional mortgage box. Many self-employed borrowers, business owners, independent contractors, and commission-based professionals earn strong income, but their tax returns may not tell the full story. That is where self-employment mortgage loans can help.
These programs are designed for borrowers who have strong cash flow but may not qualify as easily with standard W-2 income, tax returns, or conventional mortgage documentation. Instead of relying only on traditional income calculations, these loans may allow borrowers to qualify using business bank statements, profit and loss statements, or 1099 income.
Self-employment loan options may be a strong fit for:
- Business owners
- Independent contractors
- 1099 workers
- Real estate agents
- Truck drivers
- Construction contractors
- Sales professionals
- Consultants
- Freelancers
- Entrepreneurs
These programs are especially helpful for borrowers who legally write off business expenses, reinvest in their company, or show lower taxable income than their actual business cash flow.
Bank Statement Loans
Qualify Using 12 or 24 Months of Business Bank Statements
A Bank Statement Loan is one of the most popular mortgage options for self-employed borrowers. Instead of qualifying based primarily on tax returns, the lender reviews business bank statements to determine the borrower’s income. At Blue Collar Mortgage, we offer bank statement loan options using either 12 months or 24 months of business bank statements, depending on the borrower’s situation and the lender’s guidelines.
To qualify, the borrower typically needs to have been self-employed for at least two years. The underwriter reviews business deposits over the required time period and applies an appropriate expense factor based on the borrower’s business type, industry, and company structure.
For example, a contractor, restaurant owner, real estate agent, and consultant may all have very different operating expenses. A bank statement loan allows the lender to look at the business more realistically rather than simply relying on taxable income after deductions.
Why Borrowers Use Bank Statement Loans
Bank Statement Loans are a great option for self-employed borrowers whose tax returns may not accurately reflect their true earnings. Many business owners take legitimate deductions that reduce taxable income, but those deductions can also make it harder to qualify for a traditional mortgage.
A Bank Statement Loan may help bridge that gap.
Common Benefits of Bank Statement Loans
- Qualify using business bank statements instead of tax returns
- 12-month and 24-month options available
- Helpful for borrowers with significant tax write-offs
- May allow for stronger income calculation than conventional financing
- Available for home purchases, refinances, and cash-out refinances
- Designed specifically for self-employed borrowers and business owners
Who May Be a Good Fit?
A Bank Statement Loan may be a good fit if you have been self-employed for at least two years, have consistent business deposits, and your tax returns do not fully reflect the cash flow of your business.
If you have been told you do not qualify because your tax returns do not show enough income, a Bank Statement Loan may give you another path forward.
Profit and Loss Loans
Mortgage Qualification Using a Business Profit and Loss Statement
A Profit and Loss Loan, often called a P&L Loan, is another flexible mortgage option for self-employed borrowers. Instead of relying on traditional tax return income, the lender may use a business profit and loss statement to evaluate income.
Depending on the lender and loan program, the P&L may need to be prepared by a CPA, tax professional, enrolled agent, or qualified third party. Some programs may also require supporting business bank statements to validate the income shown on the profit and loss statement.
This type of loan can be helpful when a borrower’s current business income is stronger than what is reflected on the most recent tax returns.
Why Borrowers Use P&L Loans
Business income can change quickly. A borrower may have a growing business, stronger year-to-date revenue, improved margins, or fewer expenses than in previous years. A traditional tax return review may not always capture that improvement.
A P&L Loan gives the lender another way to evaluate the current performance of the business.
Common Benefits of P&L Loans
- Qualify using a business profit and loss statement
- May reduce reliance on tax return income
- Helpful for borrowers with improving business performance
- May be available with or without supporting bank statements, depending on lender guidelines
- Available for purchases, refinances, and cash-out refinances
- Designed for self-employed borrowers with documented business income
Who May Be a Good Fit?
A P&L Loan may be a good fit for a borrower who owns a business, has strong current income, and can document that income through a professionally prepared profit and loss statement.
This program may be especially useful for self-employed borrowers whose tax returns are outdated, overly conservative, or not the best reflection of their current business performance.
1099 Mortgage Loans
Home Loans for Independent Contractors and Commission-Based Borrowers
A 1099 Mortgage Loan is designed for borrowers who are paid as independent contractors rather than traditional W-2 employees.
Many 1099 borrowers earn strong income, but traditional mortgage guidelines can make qualification difficult when tax returns show reduced taxable income after business deductions. A 1099 Loan may allow the lender to evaluate income based on 1099 earnings instead of requiring a full traditional self-employed tax return analysis.
This can be a strong option for borrowers who are paid consistently by one or more companies but are classified as independent contractors.
Common 1099 Borrowers
1099 Mortgage Loans may work well for:
- Real estate agents
- Insurance agents
- Sales professionals
- Truck drivers
- Consultants
- Freelancers
- Contract workers
- Gig economy workers
- Commission-based professionals
Common Benefits of 1099 Loans
- Qualify using 1099 income documentation
- May avoid traditional tax return income limitations
- Helpful for borrowers with business deductions
- Designed for independent contractors and commission-based earners
- Available for purchases, refinances, and cash-out refinances
- May provide a simpler income review than standard self-employed loans
Who May Be a Good Fit?
A 1099 Loan may be a good fit if you receive consistent 1099 income, have a strong earnings history, and your tax returns do not accurately reflect your ability to repay a mortgage.
If you are an independent contractor who makes good money but struggles to qualify through conventional mortgage guidelines, a 1099 Mortgage Loan may be worth exploring.
Investment Property Loans
Real Estate Investor Financing Built for Portfolio Growth
Blue Collar Mortgage offers investment property loan options for borrowers who want to purchase, refinance, or expand their rental real estate portfolio.
Traditional mortgage programs can work well for many investors, but they can become restrictive as your portfolio grows. Conventional financing often requires personal income documentation and may limit the number of financed properties a borrower can own.
For investors who want a more scalable solution, DSCR Loans can be a powerful option.
DSCR Loans
Rental Property Loans Based on Property Cash Flow
A DSCR Loan, or Debt Service Coverage Ratio Loan, is designed specifically for real estate investors. Instead of qualifying primarily through personal income, tax returns, W-2s, or employment history, the lender evaluates the income potential of the investment property itself.
In simple terms, the lender looks at whether the property’s rental income can support the proposed mortgage payment.
If the borrower has acceptable credit, a sufficient down payment or equity, and the property’s fair market rent supports the payment, a DSCR loan may allow the borrower to qualify without using traditional personal income documentation.
How DSCR Loans Work
DSCR stands for Debt Service Coverage Ratio. This ratio compares the property’s rental income to the property’s monthly mortgage payment, including principal, interest, taxes, insurance, and applicable association dues.
For long-term rentals, the lender typically reviews market rent based on the appraisal or lease documentation. For short-term rentals, some programs may consider income potential from platforms such as Airbnb or VRBO, depending on lender guidelines.
The stronger the property’s cash flow, the stronger the loan scenario.
Property Types That May Be Eligible
DSCR Loans may be available for:
- Single-family rental homes
- 2-4 unit residential properties
- Condominiums
- Townhomes
- Long-term rental properties
- Short-term rental properties
- Airbnb and VRBO-style investment properties
Why Real Estate Investors Use DSCR Loans
DSCR Loans are popular because they allow investors to qualify based on the investment property instead of their personal income.
This is especially helpful for borrowers who:
- Own multiple rental properties
- Have complex tax returns
- Write off significant expenses
- Are self-employed
- Want to purchase properties in an LLC
- Want to scale beyond traditional conventional loan limits
- Prefer a more investment-focused underwriting approach
DSCR Loan Benefits
- No personal income verification in many cases
- No tax returns required for income qualification
- No W-2s or pay stubs required
- Long-term and short-term rental options available
- Purchase, refinance, and cash-out refinance options
- LLC ownership may be allowed
- Higher financed-property flexibility than conventional financing
- Strong option for scaling a rental portfolio
DSCR Loans vs. Conventional Investment Property Loans
Fannie Mae and Freddie Mac financing can be excellent options, but conventional guidelines commonly become more restrictive as a borrower accumulates financed properties. Many conventional scenarios are limited to a maximum of 10 financed residential properties.
DSCR Loans can provide more flexibility. Some lenders allow significantly more financed properties than conventional financing. For example, some investor-focused programs allow up to 20 financed properties, while other DSCR lenders may not impose a strict total property count cap, subject to credit, reserves, loan exposure, and overall lender guidelines.
That flexibility makes DSCR financing a strong tool for investors who want to continue buying rental properties without being boxed in by traditional income or property-count restrictions.
Who May Be a Good Fit?
A DSCR Loan may be a good fit if you are buying or refinancing an investment property and want the loan decision to be based primarily on the property’s rental income.
This program may be ideal for first-time investors, experienced landlords, Airbnb investors, BRRRR investors, and borrowers looking to build long-term wealth through real estate.
Whether you are buying your first rental property or growing a larger portfolio, Blue Collar Mortgage can help you review DSCR Loan options and find a program that fits your investment strategy.
Refinancing Made Simple - Explore Your Options
Refinancing your home can be a smart way to lower your monthly payments, access your home's equity, or adjust your loan terms. We're here to guide you through the process and help you find the best option that fits your financial goals.
Rate-and-Term Refinance
A rate-and-term refinance allows homeowners to lower their interest rate or adjust their loan terms to save on monthly payments or pay off the mortgage faster. This option is ideal for those looking to improve their financial situation, and build wealth through homeownership.
Benefits: Lower interest rates, reduced monthly payments, or shortened loan term for faster payoff.
Cash Out Refinance
A cash-out refinance unlocks the potential of your home’s equity, giving you the cash you need to pursue your dreams and financial goals. Whether you’re looking to consolidate debt, fund a major renovation, start a business, invest in real estate, or pay for education, this option puts your home’s value to work for you.
Benefits:
Access cash from your home’s equity to fuel your ambitions, consolidate debt, or make significant purchases—all while potentially lowering your interest rate. Turn your home into a powerful tool for building your future!
We have several refinance options available and will help guide you through the best options for your specific situation.
