Mortgage Question!! Is anyone elses husband self-employed??

Mortgage Question!! Is anyone elses husband self-employed??

My DH is self employed and does not file taxes, his business is off the books. We are looking into applying for a mortgage and I am clueless as to what he needs to do to show how much he makes. Did anyone buy a house and get approved for a mortgage with their husband not having tax papers to show?? Sorry if this is confusing. We want to look for a house, and I am on the books, but don't make enough alone to get a good mortgage and need his salary factored in too. Can his be factored in without tax returns?? Thanks!!

Re: Mortgage Question!! Is anyone elses husband self-employed??

before you were married, what did he put on his own tax return?? since you have only been married since february, the bank is going to want at least a prior year or two from both of you.

Re: Mortgage Question!! Is anyone elses husband self-employed??

You can do a mortgage with a no income verification, but you'll end up paying a higher interest rate.

Re: Mortgage Question!! Is anyone elses husband self-employed??

Not only do they look at how much you make, they look at your credit rating. If you have good credit that's also a plus!

Re: Mortgage Question!! Is anyone elses husband self-employed??

I had a similar situation because my husband is self employed and shows next to nothing on the books. We were going to do a no income check loan, which does lead to higher interest rates, but if you really want a mortgage you will do what you have to do. I ended up getting the mortgage myself, which we barely made with all of the school debt that i had, but I would have obtained a no income check loan if I had to.