Self-Employed Borrower Documents

Personal

• Personal federal tax returns, last 2 yearsAll pages and schedules.
• Government-issued photo ID
• Personal bank statements, last 2 months

Business

• Business tax returns, last 2 years, if you file themFor example Form 1120S or 1065, with K-1s.
• Year-to-date profit and loss statementAsk whether it needs to be prepared or signed by a CPA.
• Business bank statementsUsually the most recent months.
• Proof the business is activeSuch as a business license, a CPA letter, or state registration on Sunbiz.org.

Good to know

• Explain any big change in incomeA short letter can help if income dropped or jumped.
• Talk before you file your next returnWrite-offs lower taxable income, which can affect what you qualify for.
• Ask about other optionsSome programs, including bank-statement loans I offer for self-employed borrowers, look at bank statements instead of tax returns. Eligibility rules apply, so ask me what you may qualify for.

Notes