How To Get A Mortgage If You’re Newly Self-Employed
Getting a mortgage with only one year of tax returns is possible for self-employed individuals, but it depends on specific circumstances. Lenders typically prefer two years of income history to assess stability. If a borrower has prior experience in the same field, they may qualify with just one year. Alternatives include non-QM loans, bank statement loans, or adding a co-borrower. Lenders also consider credit scores, monthly debts, and down payment sizes. Self-employed borrowers face challenges due to tax write-offs affecting reported income.
Categories
Recent Posts

Builder Confidence Bounces Back Stronger in Mid-Fall

Will 2029 Bring a Predictable and Stable Housing Market?

First-Time Homebuyer Tips You Can’t Afford to Ignore

Six Tips for First-Time Homebuyers

Mortgage Rates to Ease by 2026

New Jersey Ranks High for Housing Prices per Square Foot

5 Ways To Boost Your Chances of Getting a Mortgage If You’re a Freelancer or Self-Employed

Housing Market Set for Steady Growth Ahead

Mortgage Pre-Approval: Your Guide to Homebuying Success

