Another lender is asking me for my business tax returns, including my K-1's and 1120's, is this normal?

Yes, if the lender is requiring tax returns, then most likely the reason this is coming up is because there’s some link between your business tax return and your personal 1040s. In other words for every business you own, that files a corporate tax return then yes mortgage lenders underwriter is going to require each tax return for the most recent two years for each additional business that you own all schedules, and all pages. This is a byproduct of the way the business owner filed their tax returns that is, a link between the personal tax return and the corporate tax return which makes the underwriter for the mortgage lender requires such further documentation than is otherwise typically necessary. Want to know what you’ll need for qualifying for a loan? Contact Scott@sonomacountymortgages.com, today!