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I am self employed since 2020. Tax returns show a large amount of deductions but no loss. I can prove through monthly deposits that my income is growing everytime. My wife is a W2 employee and has the same job for 3 years now. We have credit scores in the 670s. What is the process for hybrid borrowers where I am self employed and my wife is W2? by johndurmont870 from Akron, Ohio. Mar 21st 2023 Reply

Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,834 contributions

Standard loans require we look at the past two-years federal tax returns for self employed. We look at what you brought in, subtract out costs, and use the bottom line of what you reported as income to the IRS. W2 income is easy, and combining both incomes into one loan application is no issue. If you write off too much on your self employed income, there are alternative self employed loans where we use bank statement deposits as qualifying income. You can learn more about those at

Mar 21st 2023
Dave Skow (daveskow)
#16 ranked lender in Washington - 444 contributions

Get pre approved to know for sure - your wifes base salary or wage will be used - your self employment income will be determined by averaging the 2020 and 2021 or 2021 and 2022 self employment income from your returns ...getting pre approved will help answer your questions and provide some guidance ..good luck Dave Skow | Loan Officer Movement Mortgage NMLS 278613 Mobile (206) 714-9745

Mar 22nd 2023
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