January 27, 2021

Avoid common tax-time missteps made by self-employed home buyers.

Self-employed borrowers have a notoriously hard time verifying employment and documenting income. Tax time is a great time to organize your documents, so you’ll have them ready when it’s time to apply for a mortgage.

Here are some of the more common items you may need

  • Tax Returns (1040 and 1120 if applicable)
  • 1099s for any reported income
  • Business accounting and expense records
  • Bank statements
  • Deposit receipts

If you are self-employed and planning to buy or refinance a house in 2021, it’s a good idea to talk to your loan officer BEFORE you file your 2020 taxes.

Your Boles Group loan officer can help you create a detailed home buying plan, provide insight on income reporting requirements, documentation that might be needed and go over some common accounting missteps that could impact your home loan application.

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Bay Equity Home Loans – Boles Group is a team of lending professionals located in Gilbert, Arizona and licensed to originate home loans for purchase or refinance in nine states (AZ, CA, CO, ID, MN, NM, NV, OR, WA). Boles Group lending professionals have the knowledge and experience to create solutions where other lenders create problems. The team prides itself on responsive, accurate communication and is highly regarded by clients and business associates alike.