If you're earning money on your own, you'll need to provide income verification
when you decide to apply for a mortgage. But it's cool: the mortgage application
process is basically the same as borrowers who have 9 to 5 office jobs.
Verifying income is important to the loan pre-approval process. If you're
self-employed, we'll need to review copies of your personal and business tax returns
for the most recent two years or longer. We'll look at your business'
income history so we can get a feel for how much you're earning, and what
you're likely to earn in the future.
Here's something else worth reminding you about: We can't consider income
that's not reported on your tax returns. So anything off the books won't
Being self-employed offers a lot of freedoms. When it comes to getting a home, though,
having paperwork ready is nearly 100% of the battle.