How Do I Qualify for a Mortgage If I Am Self-Employed?

Each lender will have its own requirements for self-employed borrowers seeking mortgages.

Generally, you can still qualify for a mortgage if you are self-employed, but your application will face additional scrutiny. Additional paperwork will be required, often including prior years' tax returns.

To qualify for a mortgage when self-employed, try to make your application more convincing. Give more details in your application and ensure your information is accurate. Explain the nature of your self-employment and provide the lender with detailed statements about your income, expenses, client information, suppliers, taxes, and even family income. Your goal should be to prove your capacity to repay the mortgage loan.