Profile picture for Kritso

Is it possible to get a mortgage when you're self-employed earlier than the 2 years I've heard?

My husband started his own company about a year ago. Is it possible to qualify for a mortgage before the 2 year time frame I've heard before? I've been told we'd need to show 2 years of proof-of-income, like tax returns. My husband has been in this line of work for over 10 years on a part-time basis and only last year incorporated.
  • July 30 2011 - Power Ranch
  • 0Yes

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Answers (3)

Profile picture for ShaelynMortis Neagra
Are you able to get a mortgage after being employed for just one year?
  • October 15 2011
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Kritso, yes it is possible to obtain a mortgage with less than 2 years of employment history as a business owner.  The key to this will be documenting the past two years (or more) of work history and making a connection between the "new" business and the work your husband did prior to starting his own business. If you have further questions, please don't hesitate to contact me directly.
  • August 05 2011
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Hi Kritso,

The simple quick answer is "yes" you can get a loan with only one year's work history being self employed. I can say that I was able to get one of my clients' approved for a purchase loan with only one year into his own business.  We used one year's worth of tax returns for him to qualify.   

But nothing is simple in the lending business, although it can still be quick. 

All the best,
  • July 30 2011
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