Owning — A Business And Buying A House

Year-to-date statements and balance sheets.

: Your total monthly debt payments (including the new mortgage) should generally remain at or below 43%–45% of your monthly income. Documentation : Be prepared to provide: owning a business and buying a house

Lenders typically look for three main criteria: credit score, down payment funds, and debt-to-income (DTI) ratio. Year-to-date statements and balance sheets

Two years of personal and business tax returns (IRS Form 1040, Schedules C, K-1, etc.). Two years of personal and business tax returns

: Lenders usually require two years of consistent self-employment income in the same industry. If your business is newer (12–24 months), you may still qualify if you have previous experience in the same field.

Understanding home loans for the self-employed - Fremont Bank

Proof of business existence, such as a business license or letters from a CPA . Strategic Financial Tips