Self-Employed Buyers Questions
Explore questions about mortgage options and income documentation for self-employed buyers.
How long do I need to be self-employed before buying a house?
Quick Answer
Two years of self-employment is common, but it is not always required. For a conventional loan, Fannie Mae allows a us to consider someone with less than two years of self-employment when their most recent filed tax returns show a full 12 months of income from the current business and the other requirements are met.
A lender will look at the income you can document and reasonably expect to continue, which may differ from your business’s gross sales. If you have over a year of self employed income, we could check to see if you qualify now vs needing to wait to show a full 2 years of tax returns.
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