6 Steps to Help the Self-Employed Qualify for a Mortgage

TWL_2015_feb_blog12With more than 53 million Americans working as freelancers, according to the Freelancers Union, an increasing number of potential homebuyers are looking to qualify for mortgages without the traditional paycheck stub or W-2. So, how exactly do these self-employed homebuyers make themselves attractive to lenders? A new Trulia article breaks down six smart steps that can help them get approved. One of these tips is particularly timely during tax season. Self-employed homebuyers should be careful not to take too many deductions that reduce taxable income in the two years prior to purchasing a home. Because banks often require tax returns for the previous two years to substantiate income, keeping those numbers as attractive as possible goes a long way in obtaining approval.

For more smart steps, read the entire article.

Image Source: Mark Moz