Step 1: Pre-approval (1-3 days) The first step in the process of getting a self-employed home loan is to get pre-approved by a lender. This involves submitting an application and

Documentation of Home Office Expenses If you work from home, you may be able to deduct certain home office expenses on your tax return. However, when it comes to applying

Why do lenders require two years of tax returns? Lenders require two years of tax returns to verify a borrower’s income and assess their ability to repay the mortgage. This

What is a pre-approval for a home loan? A pre-approval is a preliminary assessment by a lender of your ability to qualify for a home loan. It typically involves a

What is the loan-to-value (LTV) ratio? The loan-to-value (LTV) ratio is the amount of the loan compared to the value of the property. For example, if you’re purchasing a home

When determining borrowing capacity for self-employed individuals, lenders will typically look at the following factors: How much can a self-employed individual borrow for a home loan? The amount that a

Who are the lenders who specialize in self-employed home loans? What do lenders who specialize in self-employed home loans offer?

Tax implications for self-employed individuals applying for a home loan It’s important to note that tax laws and regulations can change over time, so it’s always a good idea to

Why credit scores matter Credit scores are a crucial factor that lenders consider when deciding whether or not to approve a home loan. A credit score is a three-digit number