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Recent Posts
- Paying 24% on Credit Cards While Sitting on Home Equity? Do This Math First
- What Is a Hybrid HELOC? The Lightning Equity Line, Explained in Plain English
- Gifting a Down Payment to Your Child: The Inheritance That Works 30 Years Early
- Mortgage With Fluctuating Income: What Lenders Call Seasonal — and What They Call a Decline
- How To Buy A How To Buy A House Before Selling Yours: The Structure Behind A Non-Contingent Offer
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How Creators Document Income for a Mortgage
A creator messaged us after asking ChatGPT what documents she needed to buy a house, then getting a list from her bank that made no sense for how she earns. The bank wanted two years of W-2s, recent pay stubs, and an employer to call. She has no employer, no pay stubs, and a tax…
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What Income Counts for a Self-Employed Mortgage? The Complete Documentation Guide
What income counts for a self-employed mortgage depends entirely on which program you’re applying under. Conventional lenders use net income from tax returns. Bank statement loans use 12 or 24 months of business or personal deposits. 1099 loans use the gross totals on your 1099 forms. P&L statement loans use the net profit on a…
