How To Get A Loan With Less Than 2 Yrs Tax Returns If Self Employed…

I get this question sometimes, and it’s a good one!…

“If I’m self employed can I get a loan with less than 2 years of tax returns?”

With FHA the answer to this question is… Yes, it’s possible.

Here’s how…

1) You will need at least one filed tax return with a full 12 months of self employment income.

2) You must have worked in the exact same industry and job for at least 1 year while employed as a w-2 employee previous to your self employment. You will likely need a letter from the previous employer detailing the job / duties performed to prove it was the same as your self employment.

I’ve done several of these loans. Generally, as long as you can meet the previously mentioned conditions you will be ok.

That’s it for today!