____________________________________________________________________


___________________________________________________________________

The Difficulty Of Self-Employed Mortgage

When you own your own business, it is sometimes more difficult to obtain a mortgage for your property. If you are well know with your direct mortgage lenders than there is generally an easy go of it. However, if you are just starting out than you will need certain additional documents to qualify for your home loan. The minimum requirement in the past has been to provide the mortgage lender with your federal tax returns for the previous two years. Due to the more recent upheaval in the mortgage banking business, lenders are requiring an additional year and in some cases two additional years. Although they know that the past cannot predict the future, they want to eliminate any chance of default on a mortgage.