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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…
