Can I get a mortgage if I am self-employed or on 1099 income?
Yes, you can get a mortgage with self-employed or 1099 income, but lenders typically require more documentation than for W2 wage earners. Most lenders want to see two years of tax returns, profit and loss statements, and sometimes bank statements to verify consistent income. They often average your income over that period, so fluctuations can affect how much you qualify for. Some lenders offer bank statement programs or other alternatives if traditional documentation is a challenge. The specifics depend on your situation and a licensed lender should confirm, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on credit and pre-approval
- What credit score do I need to buy a house?
- How do I get pre-approved for a mortgage and when should I do it?
- What is the difference between pre-qualified and pre-approved?
- How can I raise my credit score fast before buying?
- What documents do I need for a mortgage pre-approval?
- Can I buy a house with bad credit or after a bankruptcy?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.