Resources · Business owners

Mortgage Prep for Business Owners

Before collecting paperwork, figure out how the income should be documented.

Start With the Business. Then Determine the Paperwork.

How does the business make money?

How does the money reach you?

How is it reported?

Which qualification method fits?

Documentation may include: Tax returns and applicable traditional records
Underwriting evaluates: Reported qualifying income, business ownership, history, stability, and applicable add-backs
Potential fit: May fit when tax-return income supports the objective

Documentation may include: Applicable personal or business statements and supporting records
Underwriting evaluates: Eligible deposits, expense treatment, ownership, history, and program rules
Potential fit: May fit eligible borrowers whose deposits better represent business cash flow

Documentation may include: Applicable profit-and-loss statement and required business support
Underwriting evaluates: Business revenue, expenses, ownership, operating history, and program requirements
Potential fit: May fit eligible borrowers under a specialized P&L program

Documentation may include: Statements for eligible, accessible assets and supporting records
Underwriting evaluates: Asset eligibility, discounts, accessibility, reserves, and program calculation
Potential fit: May create, augment, or replace qualifying income under an eligible strategy