I talked with a mortgage lender several months ago, but was dismissed because I did not have two years at my current self employed business. They said they needed taxes for the last two years. The business started in June 2014, so does that mean I have to wait until June 2016 to apply, or can I apply for a mortgage after I file my 2015 taxes in Feb 2016?

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    They look at a lot of different ratios as well. If you can prove you constantly have made profit and are going to be able to continue it would help. Also - try these out: monthly housing expense/monthly income and total monthly debt/gross monthly income - you wants 28%-33% and 33-38% respectfully to be considered 'safe' usually.
    – Ross
    Commented Sep 4, 2015 at 16:24

1 Answer 1


Lenders want to judge the stability of the stated income. Because your are new to being self-employed they are concerned about your viability.

It may be possible to find another lender who will consider a shorter term of business, but it looks like the lender wants 24 months of business.

You should start with your current bank/credit Union, and if they say no ask what more info you need to provide.

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