Tricky New Mortgage

Alright all - need some help with something I’ve never dealt with before.

Quick about myself: perfect credit, self employed with a successful commercial and residential construction business doing 6-8m a year and growing exponentially each year. I pay myself a measly salary because I’ve never needed much more.

What I want to do:
-My current house is owned by my business that just sold for 3m, time to own a house personally.
-I purchased a vacant lot a couple years ago for 900k and split it with a friend. Realistically it’s only worth about 650k now. I was going to split the loss and buy them out. So I need about 325k for that.
-I want to build a personal house on said land for 1m-1.1m of which I would contribute roughly $500k cash too. I would assume the house would appraise for about 2.5m
-I’d like to get a mortgage to buy out the land and also the extra 500-600k building fee. So roughly a 900k mortgage on a house appraising at 2.5m

Now, my issues (I think they are?):
-I’ve actually not had a mortgage for about 15 years when I bought a rental.
-I’m self employed
-The measly salary i pay myself on paper would literally look like I’d struggle to pay a 100k mortgage although I could easily prove I can pay myself enough to pay a 1m+++ mortgage comfortably.
-All of my company vehicles have me on title, some are financed, some leased but if I’m not mistaken that is looked at as a “debt” to a bank even if it’s a company expense that is being paid out of the business.

So- what do you guys/girls suggest. Although I feel this is a very safe mortgage to take - I feel like a bank won’t even look at me, I’m also not interested in getting a high interest mortgage (as if bank rates aren’t already high enough). I do have the ability to get a co-signer but I really don’t want to get into that.

Posted Sep 29, 2026, 2:22 AM UTC

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