{"id":179,"date":"2021-10-28T18:32:53","date_gmt":"2021-10-28T18:32:53","guid":{"rendered":"https:\/\/ebwmtg.com\/blog\/?p=179"},"modified":"2021-10-28T18:32:53","modified_gmt":"2021-10-28T18:32:53","slug":"qualifying-for-a-mortgage-while-self-employed","status":"publish","type":"post","link":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/","title":{"rendered":"Qualifying for a Mortgage While Self-Employed"},"content":{"rendered":"\n<p>Self-employed applicants looking to purchase a home will have to fill out the same paperwork as those not self-employed, and lenders look at the same aspects such as credit score, debt, assets, income, etc. So what\u2019s the difference between a self-employed applicant and everyone else? When working for a company or business, lenders will verify the amount \u2013 and history \u2013 of that income to determine how likely you will continue to earn it.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg\" alt=\"\" class=\"wp-image-180\" width=\"453\" height=\"300\"\/><\/figure><\/div>\n\n\n\n<p>Lenders are typically looking for the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Income stability<\/li><li>Location and business<\/li><li>Financial strength<\/li><li>Potential future revenue<\/li><\/ul>\n\n\n\n<p>To apply for a mortgage while self-employed, you will need to provide a few documents showing a history of uninterrupted income for at least two years. Employment verification will also be examined, which can include:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Client lists<\/li><li>CPA verification<\/li><li>Proof of licensing or other organization<\/li><li>Insurance confirmation<\/li><li>Doing Business As (DBA) documentation<\/li><\/ul>\n\n\n\n<p>Income documentation will also need to be ready to go. It\u2019s crucial to show steady, reliable income for the past two years. Mortgage lenders generally look for:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Personal tax returns (W2s)<\/li><li>Profit and loss forms (Schedule C, K-1, Form 1120S, etc.)<\/li><\/ul>\n\n\n\n<p>If you have been self-employed for less than two years, to qualify for a mortgage, you\u2019ll need to show that your business has been active for a minimum of 12 consecutive months. Additionally, your non-self-employment history will also be verified. Your training and education might go under the microscope to ensure stability will be gained by your success.<\/p>\n\n\n\n<p>Check your Debt-to-Income Ratio (DTI), ensure your credit score is high, and separate your business expenses as well.<\/p>\n\n\n\n<p><strong>Self-employed and want to apply for a mortgage? Contact the experts at EB Mortgage today!<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/ebwmtg.com\/\">EB Mortgage<\/a> is a locally-owned mortgage company with experts in new home purchase, refinancing, and commercial loans. Our wholesale rates can\u2019t be beaten. We offer more products, more options, and more solutions. Our \u201c3C\u201d Process is simple: complete our pre-approval request, consider options based on your requirements, and choose the offer that suits your needs best. Call us at <a href=\"tel:8662460516\">866-246-0516<\/a> or e-mail <a href=\"mailto:contact@ebwmtg.com\">contact@ebwmtg.com<\/a> today.<\/p>\n\n\n\n<p><em>Written by the digital marketing staff at Creative Programs &amp; Systems: <\/em><a href=\"http:\/\/www.cpsmi.com\"><em>www.cpsmi.com<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Self-employed applicants looking to purchase a home will have to fill out the same paperwork as those not self-employed, and lenders look at the same aspects such as credit score, debt, assets, income, etc. So what\u2019s the difference between a self-employed applicant and everyone else? When working for a company or business, lenders will verify&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,8],"tags":[],"class_list":["post-179","post","type-post","status-publish","format-standard","hentry","category-buying","category-mortgages"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage<\/title>\n<meta name=\"description\" content=\"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage\" \/>\n<meta property=\"og:description\" content=\"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/\" \/>\n<meta property=\"og:site_name\" content=\"Blog | EB Mortgage\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-28T18:32:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#\\\/schema\\\/person\\\/333f9723decc685673405097840867a1\"},\"headline\":\"Qualifying for a Mortgage While Self-Employed\",\"datePublished\":\"2021-10-28T18:32:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/\"},\"wordCount\":364,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/EB-Mortgage-NS2-10-21.jpg\",\"articleSection\":[\"Buying\",\"Mortgages\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/\",\"url\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/\",\"name\":\"Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/EB-Mortgage-NS2-10-21.jpg\",\"datePublished\":\"2021-10-28T18:32:53+00:00\",\"description\":\"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#primaryimage\",\"url\":\"https:\\\/\\\/ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/EB-Mortgage-NS2-10-21.jpg\",\"contentUrl\":\"https:\\\/\\\/ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/EB-Mortgage-NS2-10-21.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/qualifying-for-a-mortgage-while-self-employed\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Qualifying for a Mortgage While Self-Employed\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/\",\"name\":\"Blog | EB Mortgage\",\"description\":\"Experts in new home PURCHASE, REFINANCING, AND COMMERCIAL LOANS\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#organization\",\"name\":\"Blog | EB Mortgage\",\"url\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cropped-EB-Mortgage-logo_FINAL.png\",\"contentUrl\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/03\\\/cropped-EB-Mortgage-logo_FINAL.png\",\"width\":957,\"height\":250,\"caption\":\"Blog | EB Mortgage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/#\\\/schema\\\/person\\\/333f9723decc685673405097840867a1\",\"name\":\"admin\",\"url\":\"https:\\\/\\\/www.ebwmtg.com\\\/blog\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage","description":"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/","og_locale":"en_US","og_type":"article","og_title":"Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage","og_description":"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.","og_url":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/","og_site_name":"Blog | EB Mortgage","article_published_time":"2021-10-28T18:32:53+00:00","og_image":[{"url":"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg","type":"","width":"","height":""}],"author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#article","isPartOf":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/"},"author":{"name":"admin","@id":"https:\/\/www.ebwmtg.com\/blog\/#\/schema\/person\/333f9723decc685673405097840867a1"},"headline":"Qualifying for a Mortgage While Self-Employed","datePublished":"2021-10-28T18:32:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/"},"wordCount":364,"commentCount":0,"publisher":{"@id":"https:\/\/www.ebwmtg.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#primaryimage"},"thumbnailUrl":"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg","articleSection":["Buying","Mortgages"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/","url":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/","name":"Qualifying for a Mortgage While Self-Employed - Blog | EB Mortgage","isPartOf":{"@id":"https:\/\/www.ebwmtg.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#primaryimage"},"image":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#primaryimage"},"thumbnailUrl":"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg","datePublished":"2021-10-28T18:32:53+00:00","description":"Qualifying for a Mortgage While Self-Employed - Check out our blog to learn the latest and greatest events regarding new home purchasing, refinancing, and commercial loans.","breadcrumb":{"@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#primaryimage","url":"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg","contentUrl":"https:\/\/ebwmtg.com\/blog\/wp-content\/uploads\/2021\/10\/EB-Mortgage-NS2-10-21.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.ebwmtg.com\/blog\/qualifying-for-a-mortgage-while-self-employed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ebwmtg.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Qualifying for a Mortgage While Self-Employed"}]},{"@type":"WebSite","@id":"https:\/\/www.ebwmtg.com\/blog\/#website","url":"https:\/\/www.ebwmtg.com\/blog\/","name":"Blog | EB Mortgage","description":"Experts in new home PURCHASE, REFINANCING, AND COMMERCIAL LOANS","publisher":{"@id":"https:\/\/www.ebwmtg.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ebwmtg.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ebwmtg.com\/blog\/#organization","name":"Blog | EB Mortgage","url":"https:\/\/www.ebwmtg.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ebwmtg.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.ebwmtg.com\/blog\/wp-content\/uploads\/2022\/03\/cropped-EB-Mortgage-logo_FINAL.png","contentUrl":"https:\/\/www.ebwmtg.com\/blog\/wp-content\/uploads\/2022\/03\/cropped-EB-Mortgage-logo_FINAL.png","width":957,"height":250,"caption":"Blog | EB Mortgage"},"image":{"@id":"https:\/\/www.ebwmtg.com\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.ebwmtg.com\/blog\/#\/schema\/person\/333f9723decc685673405097840867a1","name":"admin","url":"https:\/\/www.ebwmtg.com\/blog\/author\/admin\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/posts\/179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/comments?post=179"}],"version-history":[{"count":1,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/posts\/179\/revisions"}],"predecessor-version":[{"id":181,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/posts\/179\/revisions\/181"}],"wp:attachment":[{"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/media?parent=179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/categories?post=179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ebwmtg.com\/blog\/wp-json\/wp\/v2\/tags?post=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}