You own a home in Colorado Springs. You own a business. And a bank just told you that you cannot refinance because your tax return is too small. That is a document problem. A self-employed refinance uses your bank statements, 1099s, or your CPA’s P&L instead. Rate-and-term to 89.99% of the value. Cash-out to $1,500,000. No tax returns. Colorado Springs based, 25+ years.
No SSN required. No credit pull. Takes about 2 minutes.
Two Kinds of Refinance
Rate-and-term
Lower the rate, change the term, or both. No new money out beyond $2,000 or 2% of the loan. Up to 89.99% of the value with a 740 score. 80% at 660.
Cash-out
Pull equity out as cash. Up to $1,500,000 at 50% loan-to-value or below. Up to 80% of the value with a 740 score. 70% at 660. You must have owned the home six months.
One trap catches Colorado Springs owners constantly. If you rolled a HELOC into the refinance and drew more than $2,000 on it in the last 12 months, the whole loan becomes a cash-out. Lower limit, different pricing. Sometimes waiting until the draw is a year old is worth real money.
Colorado Springs Equity, Explained
A lot of Colorado Springs owners who bought before 2022 have real equity and a first-mortgage rate they will never see again. That changes the math. If your current rate is low, a cash-out refinance replaces it on the whole balance. A hybrid HELOC or a closed-end second sits behind it and leaves that rate alone. We run both and show you the numbers.
What You Need to Qualify
Source: PRMG Non-QM Income Qualifying guidelines effective August 20, 2026. Terms change. Confirm on your file.
Rate-and-Term Limits by Score
Cash-Out Limits by Score
Primary residence grids. Second homes and rentals run lower. If your tax returns already show enough income, a regular refinance goes to 95% and prices better. We check that first.
Why Colorado Springs Has So Many Self-Employed Buyers
This is a military town. Military towns run on small business. Contractors who serve Fort Carson, Peterson, Schriever, and the Academy. Spouses who built a business that moves with each PCS. Veterans who got out and started a company. Real estate agents. Home builders. HVAC and plumbing shops. Cleaning companies, gyms, salons, and food trucks. And a growing number of remote 1099 workers who picked the Pikes Peak region on purpose.
The problem is the same for all of them. A good accountant lowers your taxable income. A bank reads that lower number as your pay. So the owner who keeps the most money is often the one who gets told no. We fix the document, not the business.
Myths
Myth: I have to show two years of returns to refinance. No. Bank statements, 1099s, or a P&L. No tax transcripts are pulled on bank statement income.
Myth: A cash-out is always the way to get money out. Not when your first-mortgage rate is low. A second mortgage prices only the money you need.
Myth: If a bank said no, everyone will. A bank had one product and read one number. There are five documentation paths.
Every Colorado Springs Self-Employed Page We Have
Sorted by how you get paid and what you are trying to do.
Colorado Springs self-employed mortgage hub
Every self-employed and business-owner loan path we run in Colorado Springs, sorted by how you get paid.
Bank statement loans in Colorado Springs
Qualify on 12 or 24 months of deposits. No tax returns.
P&L loans in Colorado Springs
Your CPA’s profit and loss statement is your income.
1099 loans in Colorado Springs
100% of your 1099 income counts. No expense haircut.
Asset depletion loans in Colorado Springs
Qualify on savings and investments instead of a paycheck.
Alt-AUS jumbo in Colorado Springs
Above $832,750 with clean tax returns and a DTI up to 49.99%.
DSCR loans in Colorado Springs
Rentals qualify on rent, not your income.
Jumbo loans in Colorado Springs
Broadmoor, Flying Horse, Black Forest. Eight jumbo paths.
Contractor and trades mortgages
Built for builders, HVAC, plumbing, electrical, and every trade in El Paso County.
Realtor and commission-income mortgages
1099 agents and commission earners. Variable income, handled.
Rental property investor loans
House-hack, BRRRR, and out-of-state buyers. DSCR, bank statement, and HELOC paths.
Colorado Springs Self-Employed Refinance FAQ
Can I refinance my Colorado Springs home without tax returns?
Yes. A self-employed refinance uses 12 months of bank statements, 1099 income, or a CPA-prepared P&L. No tax transcripts are pulled on bank statement income.
How much can I borrow on a rate-and-term refinance?
Up to 89.99% of the home’s value with a 740 score. 85% at 680. 80% at 660. Loans to $3,500,000.
How much cash can I take out?
Up to $1,500,000 at 50% loan-to-value or below. $1,000,000 above 50%. $500,000 above 75%. Cash above $500,000 needs a 720 score and 60% loan-to-value or less.
How long do I have to own the home before a cash-out?
Six months since your last mortgage transaction, measured note date to note date. Inherited homes and homes awarded in a divorce have no waiting period.
Is a HELOC a problem on a refinance?
It can be. If you drew more than $2,000 on it in the last 12 months and roll it into the new loan, the refinance becomes a cash-out with lower limits. Waiting until the draw is 12 months old can fix it.
Should I refinance or get a second mortgage?
If your first-mortgage rate is well below today’s, a second mortgage usually wins. It prices only the money you need and leaves the first loan alone. We show you both.
What credit score do I need?
660 to start. 680 improves the limit. 720 unlocks cash-out above $500,000. 740 reaches 89.99% on a rate-and-term.
Can I refinance if my home was listed for sale?
It must be off the market before you apply. A listing in the last 6 months makes it ineligible on the standard program.
The full national guide is self-employed refinance requirements. Veterans should read the VA cash-out refinance rules first, because VA goes to 100% of the value.
Written by
J.D. Peck
Area Manager and Mortgage Loan Originator at Paramount Residential Mortgage Group, Inc. NMLS #314883. 25+ years of mortgage experience, 3,100+ closed loans, Scotsman Guide Top Originator 2026.
Last updated: September 9, 2026. Loan program parameters subject to change — confirm current eligibility on your specific scenario before relying on any figure shown.
Run the Refinance Before You Assume the Answer
Two minutes to start. No SSN. No credit pull. We run your income four ways and compare a refinance to a second mortgage so you keep the better rate.
What are you looking to do?
No SSN required. No credit pull. Takes about 2 minutes.