The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

The complete guide to getting a mortgage when your self-employed

The complete guide to getting a mortgage when your self-employed

By Scott Sheldon / January 9, 2022

It’s no surprise if you’re self-employed and you’re trying to secure mortgage financing you potentially have a difficult time getting your loan approved. Let alone getting your loan to close at all. If you’re self-employed, here are several lending factors you need to be aware of as a pertains to being self-employed and showing income…

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Self Employment and getting a mortgage just got easier

Self-Employed? It just got easier to get a mortgage

By Scott Sheldon / March 9, 2017

Are you looking to purchase a home? Are you self-employed? The rules to make this happen just got easier. Freddie Mac has recently announced upcoming changes on how vendors can use your income to qualify you for a home. If you are a self-employed borrower, lenders will be looking at your loan application with a…

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Scott Sheldon's The Mortgage FIles Blog

Do Tax Losses On Closed Business Hurt My Chances To Qualify For A Mortgage?

By Scott Sheldon / April 5, 2014

No as long as the business is actually closed it should not hurt your ability to qualify from an income standpoint. For example let’s say you opened up the side business a couple of years ago, claimed some monetary losses on tax return, but have subsequently closed the business. Lender will not need to…

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