For Realtors
Self-employed buyers aren't harder to approve — their income is just easier to read wrong. Here's what happens when we look at the file.
Pick an open time. Tell us the buyer's situation in a sentence or two — no paperwork needed yet.
How the buyer earns: 1099, LLC, S-corp, sole proprietor, cash business. How long, and what the last lender said.
Usually two years of personal and business tax returns, recent bank statements, a year-to-date profit and loss, and business license or CPA letter.
Underwriters look past the bottom line. Depreciation, one-time expenses and other add-backs can raise qualifying income. Trends year over year matter too.
Conventional, FHA, bank-statement or other programs each count self-employed income differently. We point to the one that fits the file.
A straight read: what works, what's missing, and what the buyer should do next — so you know whether to keep the deal moving.
Have these handy
A review is not a loan approval or commitment to lend.