Self Employed Mortgages Require Income Declarations
February 12th, 2010
For people that are self employed where because of the way they report income and deduct expenses compared to someone under an employment sitution, many of the traditional mortgage programs won’t approve them due to their inability to meet the repayment requirements.
self employed mortgages have been created just for this purpose and require the applicant to declare what their annual income is, even though it can’t be verified in the same manner, and then have it notorized by a recognized professional such as a lawyer or accountant that would know the individual and were prepared to support any statements associated with income that are made.
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