Self Employed? A common question I receive is how many years of tax returns do I need to provide when applying for a home loan? When you are getting a conventional loan, the automated underwriting systems that we use will assess your risk and then request the number of years of tax returns we need to ask you for. For some this is one year and for others two years depending on how long you have owned your company and other details of your financial history. If you are self-employed, let’s talk before you start looking for a home!
Related Article Title: Number of Years of Tax Returns for Self-Employed Borrowers Question: My client has been self-employed for more than five years, and his corporation was opened over three years ago. Can we use just a one-year tax return? Answer: That is not a decision made by an individual, rather the number of years […]