If you are self-employed and looking to buy a home, you may have heard that it is more difficult to get financing. That isn’t necessarily the case. The truth is that lenders consider the same criteria for each borrower. They will still ask for your work history, income/debt verification and other necessary documentation.  Here is an overview so you’ll be better prepared when the time comes.

Being self-employed long enough

Mortgage lenders will generally consider any source of income that is “stable, consistent, and ongoing.” This means you must be employed consistently for more than a year, typically at least two years. Remember, your lender is trying to determine whether you’ll be able to make your monthly mortgage payments.

Provide the right documentationself-employed mortgage

When evaluating self-employed borrowers for a mortgage, lenders will look at their financial history the same as anyone else. The key difference is that you may have to provide more pieces of documentation. For example, if a company pays you as a gig or contract worker, you will be provided a 1099 instead of a W-2. Your lender may also ask for the following, if applicable:

  • Year-to-date profit and loss statement
  • Two most recent personal tax returns
  • Two most recent business tax returns
  • Letter of explanation from your CPA

Consider a joint mortgage or co-signer

If it comes down to it, consider getting a joint mortgage or co-signer. This could be your spouse, partner, or trusted family member. The co-signer will also be financially responsible for the loan but won’t share the property’s ownership.

Talk with an agent at

Regardless of your employment status, pre-approval is a vital first step in determining what kind of home loan is right for you. At, our expert loan officers will work with you to find the best loan for your situation.

Call now to speak with one of our experienced loan officers

and apply for a mortgage today!


The above information is for educational purposes only. All information, loan programs and interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.