Many believe lenders won’t approve mortgages for self-employed individuals. In reality, it’s absolutely possible—you just need to present your income in a clear, organized way that meets lender requirements. Stability is key, not your job title.

A lot of people think you must have two full years of self-employment income to even be considered. While having a longer track record helps, some lenders are willing to work with shorter timeframes, especially if you can demonstrate stability and growth.

Many believe that fluctuating income disqualifies them. However, lenders aren’t necessarily concerned with month-to-month variations. They care more about how you present your overall earnings over time. Structuring your income to show consistency (e.g., through regular pay and dividends) can make all the difference.

While a larger down payment may help, it’s not always a requirement. Self-employed borrowers can often qualify for standard down payment percentages, depending on their overall financial picture and how well they can document their income.

Some self-employed people think they can only use personal income to qualify for a mortgage. The truth is, if you structure your income properly—such as paying yourself a salary or dividends from your corporation—lenders can absolutely accept it as part of your overall financial profile.

It’s commonly believed that taking advantage of business tax deductions will hurt your mortgage chances. While writing off too much could reduce your qualifying income, there are ways to balance legitimate deductions while still showing enough income to satisfy lenders.

Many think the mortgage process for self-employed individuals is too complex. While it can involve more paperwork, working with professionals who specialize in structuring self-employed income can make it straightforward and much more manageable.