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What are the requirements for self-employed individuals or LLC owners to get approved to buy a home? (60 second answer)

Jessica Bordelon Mashael
3 min readDec 29, 2024

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A business man on the phone and an owner of a farming business holds her products with a smile. Both self employed.

SELF EMPLOYED People — I love working with y’all !!!

I have helped several Small Business Owners purchase homes and investment property and I would love to guide you to your goals as well.

To buy a home, you will need the following:

  1. Most recent 2 years of tax returns filed in which you reported self employed income.**
  2. A simple version of a Profit and Loss statement for the current year***

**You don’t have to file “business taxes.” This is about your personal tax return and what income sources you applied to it. You can also have a mix of W2 and self employed income without issue.

*** I have a template for a Profit and Loss Statement that you can use to create one in less than an hour.

What happens if you don’t have these 2 items?

If may or may not cost you a little more up front.

If you only have one year of tax returns that included some business income, you may still qualify for the 3% down payment options, but you will have fewer down payment…

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Jessica Bordelon Mashael
Jessica Bordelon Mashael

Written by Jessica Bordelon Mashael

I am all the stuff of Millenials — Multitasker, Hustler, Unapologetic, Humanitarian. I write about Growth: wealth, relationships, spirituality and more. :-)

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