Does it seem like the mortgage process was designed for traditional W-2 employees? Well, that’s because it sort of. is. But if you don’t have paycheck stubs because you work as a freelancer, or if your income and work history vary wildly, don’t sweat it. Self-employed people can qualify for mortgages too.

Mortgages for Self-Employed with No Proof of Income but Good Credit. If you’re self-employed and have good credi t, it can be difficult to get a mortgage if you can’t verify steady income. Gone are the days of needing a credit score of 680 or higher to get a mortgage; even if you were self-employed.

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Understand mortgage loans for self-employed, commission income, or tipped. tax returns and give a low doc, no doc, or stated income loan to a self-employed.

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But, the catch was: we were (and are) both self-employed. Unfortunately. this issue in the year or two before applying for your mortgage to make sure you don’t reduce your income so low that you.

Getting a joint mortgage with a co-borrower who is a W-2 employee, such as a significant other, spouse, or trusted friend, is another way to improve your prospects of getting approved for a mortgage if you are self-employed. This provides more assurance to your lender that there is a steady income to pay back the debt.

Getting a mortgage while self-employed may be difficult. owners usually take maximum deductions to keep their net profits and personal income lower to keep taxes low. However, this reduces cash.

The problems faced by business owners and the self-employed. Gone are the days of self-certification mortgages, which required little or no proof of income and allowed the self-employed to get a.

How Self-Employed Borrowers Can Get a No Income Verification Loan. borrowers had little documentation of income, they could get mortgages with low rates.

Self employed borrowers, as well as those who earn seasonal income, are eligible for some excellent mortgage programs. This includes mortgage products that do not require you to submit any tax returns, but instead allow you to use your bank statements to verify income.

Image source: Getty Images. When you’re self-employed, however, your income can fluctuate, and there’s always the chance that it could sink so low that you cannot afford to pay your bills. That’s why.