We know that getting a mortgage as a self-employed individual can be more challenging than a W2 employee. This is not a reason, however, to let go of your dream to own a house. Follow our tips below for a smooth mortgage approval experience as a self-employed home shopper.

What Lenders Are Looking For?

Self-employed home buyers submit the same application forms as everyone else, the only difference is lenders have more rigorous requirements when it comes to proof of income.

In regards to your self-employed income, you’ll need to prove the following:

• Business stability

• Nature and location of your self-employment

• Financial strength of your business and its ability to generate sufficient income for the foreseeable