Loan Officer Spotlight: Self-Employment Income Verification
Rumors have circulated among far too many borrowers that getting a home loan as a self-employed individual is incredibly difficult, if not completely impossible. I’m here to tell you that is not the case at all, especially with the experts here at NOVA® Home Loans.
As a self-employed person, you have many perks; setting your own hours, being your own boss, and electing to have casual Friday every day… But, if you have applied for any kind of credit, you may have learned that even though the pluses outweigh the minuses, verifying your income can be difficult.
Applying for a mortgage is very similar to applying for a credit card, so be prepared to submit at least the following items:
At least 2-years of tax returns
Profit and loss statements from your business
Bank statements for your business
Invoices, credit card and check copies
I realize this may be overwhelming, but don’t worry, we are here to help you. If you don’t know how to locate some of these items or are unsure of how to show this information, give me a call and I can help. There are various ways of verifying income, and it’s my job to make this process as stress free as possible for you.
So, the bottom line is, if you are self-employed, you most certainly CAN get a home loan, you just may need my help. If you have any questions or concerns, please contact me by phone or email. No question is too big or small!