K.M. Minemier & Associates is a certified Woman Owned Small Business (WOSB) engaged in full service real estate asset management and marketing.


Self-employed? Things to know when applying for a mortgage

October 09, 2019

Curious if being self-employed could stop you from being eligible for a home? Know that you still have options for homeownership. You should be aware of a few things, however, to ensure your process is as smooth as possible.


Tips to know as a self-employed applicant:

  1. Have your business and personal tax returns available and handy. Typically, your loan officer will need to see at least 2 full years of self-employed income.

  2. Your loan officer will need to know about the length of time you’ve been self-employed and in your line of work. Make sure to have that calculated response ready to discuss.

  3. The lender will also need to see your business license, if you have one issued. Be sure to have this handy with your documents. It may also be possibly to verify this registration with the Secretary of State, but it’ll be a lot easier if you have the license available.

  4. Note: have your K-1 document, or any other applicable schedules available. It will be necessary to bring along with your other statements.

  5. Because it involves different documentation than most, be sure you’re speaking with a mortgage loan officer with plenty of time. Presenting your information to your loan officer before you start looking will help save everyone time so they can properly verify your information.


Know that being self-employed doesn’t have to make your homeownership journey an impossible task. Being informed is key. So be sure to follow these tips, and give yourself enough time, in order to make your home loan application process as smooth as possible.

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