This covers all the borrowers who are business for self or self-employed. These individuals own a business or are independent contractors who pay their own income taxes. Whether you are 1 day self-employed or 20 years in business, there are financing options available with the various lenders who  understand income confirmation can be a bit trickier for the self-employed.


Self-Employed for 2+ years

You will be asked to provide proof of self-employment as well as a 2-year income history to prove your “taxable” earnings.


Self-Employed for less than 2 years or minimal income declared

Good news is we have access to “stated income” programs that allow a borrower to “state their income” at a level that is reasonable for the industry they work in. Again, you will be asked for proof of self-employment, however, confirmation of other traditional income documents may not be required.


Geting a mortgage while stating your income can be more challenging to obtain than if your income was verifiable by a third party document like Notice of Assessments or Tax Returns. Contact us to chat about your specific situation so we can come up with a custom solution to fit your mortgage needs.

* This data is provided for information purposes only and is updated daily by Mortgagegirl. Posted rates are subject to change without notice. O.A.C. E&OE.