How to Get a Mortgage When You’re Self-Employed

A rising number of Americans are self-employed, making it challenging to secure a mortgage. Lenders may not count all income and often view self-employed individuals as riskier borrowers. However, mortgages for self-employed borrowers are available. To improve chances of approval, applicants should work with lenders familiar with self-employment, provide thorough financial documentation, and consider applying with a co-borrower. A larger down payment and a strong credit score can also enhance eligibility. Careful management of tax deductions is crucial to present a favorable income profile.