Securing a Mortgage as a Self-Employed Individual
Thursday, 25 April 2024, 09:00
Securing a Mortgage as a Self-Employed Individual
It's not impossible to get a mortgage when you're self-employed, but it can be more challenging than for salaried workers.
Requirements for Mortgage Approval:
- Decent credit score (minimum 620 for conventional mortgage)
- Reasonable debt-to-income ratio
- Proof of income
Additional Steps for Self-Employed: Expect to provide tax returns, list of clients, professional license, and bank statements.
Preparation is key to navigating the mortgage approval process successfully as a self-employed individual.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.