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what all do i need for self employment

  • April 25 2012 - Burien
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Answers (2)

What is needed could vary based on the circumstances (i.e loan product, loan purpose, how much you are putting down,)

The following is a comment straight out of some DU Findings on a recent loan I closed.

"self-employed income must be supported by one year's signed personal tax returns if it will be used for qualifying purposes. Provide all tax schedules and written permission to request tax returns from the IRS. A minimum of 6 months self-employment income must be reported on the latest tax return. Refer to the Selling Guide for additional information."

  • April 25 2012
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Profile picture for Cindy Quinton
You generally need at least the last two years of taxes. If you made more last year than the year before, they will average the income. If you made less last year than the year before, they will just use what you made last year to work from.

Good luck!
  • April 25 2012
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