Re: Can I get a home loan without providing my tax returns?
Posted: Wed Mar 30, 2016 9:23 am
Hello Nico Robin. Welcome to the forums.
Freelancers tend to have a hard time getting approved for a home loan mainly due to the strict requirements set for the self employed or those who run their own business. However, by applying with the right lender, you can get better home loan deals despite being a freelancer.
If proving your income through traditional means such as tax returns is difficult for you then getting a low doc home loan may be an alternate option because you can get it without providing any recent tax returns.
There are other ways to prove your income besides using tax returns. You may provide last years’ financial statements (Profit & Loss and Balance sheet), last years’ personal tax returns or last years’ notices of assessment.
Most lenders require you to be self-employed for at least two years. Although very rare, there are some specialist lenders who may consider people who have been self employed for just a day.
Cheers,
Otto
Freelancers tend to have a hard time getting approved for a home loan mainly due to the strict requirements set for the self employed or those who run their own business. However, by applying with the right lender, you can get better home loan deals despite being a freelancer.
If proving your income through traditional means such as tax returns is difficult for you then getting a low doc home loan may be an alternate option because you can get it without providing any recent tax returns.
There are other ways to prove your income besides using tax returns. You may provide last years’ financial statements (Profit & Loss and Balance sheet), last years’ personal tax returns or last years’ notices of assessment.
Most lenders require you to be self-employed for at least two years. Although very rare, there are some specialist lenders who may consider people who have been self employed for just a day.
Cheers,
Otto