What documents do I need to buy a house if I'm self-employed?

Who counts as self-employed?

Fannie Mae's Selling Guide treats you as self-employed if you own 25% or more of a business. That includes sole proprietors, partners, and owners of corporations or LLCs. Freelancers and gig workers who get 1099 income usually fall here too. Your lender makes the final call.

The self-employed document checklist

Sources: Fannie Mae Selling Guide B3-3.5-01 (12/13/2023) and B3-3.1-02 (06/03/2026); CFPB, Create a loan application packet. Other loan programs set their own lists.

Why two years of returns?

Fannie Mae's guide generally looks for a two-year history of self-employment income. It allows a shorter history in some cases, when your most recent signed return shows at least 12 months of income from the current business and you have prior work in a similar field. It also allows one year of returns in some cases, when the business has existed for five years and you've owned 25% or more of it for those five years.

The lender reads your returns to work out income it can count, using a cash flow analysis. Fannie Mae provides Form 1084 for this, or the lender can use its own equivalent. Business write-offs that lower your taxable income can also lower the income a lender counts.

What about IRS transcripts?

Each borrower whose income is used to qualify signs IRS Form 4506-C at or before closing. It lets the lender request transcripts from the IRS to confirm your returns match what the IRS has on file. If you recently filed, ask your loan officer how that timing affects your file.

Using business money for the down payment

If you plan to use money from a business account, Fannie Mae's guide has the lender do a cash flow analysis of the business to confirm that taking the money out won't hurt the business. Business debt you are personally obligated on can also count in your debt-to-income ratio. Bring it up early so the lender can plan the documents.

How to get ready

1. File your returns and keep signed copies with every schedule.
2. Keep business and personal accounts separate, and avoid large unexplained deposits.
3. Pull together your two most recent statements for every account you'll use.
4. Ask a licensed loan officer which documents your specific loan needs. Some programs, such as bank statement loans, use different documents.
5. Set a monthly budget that fits your real income, then shop homes by that number.

Every file is reviewed on its own facts, and your lender may ask for more documents than these.

A free account shows every home for sale that fits the monthly payment you're comfortable with, each with its real property taxes, HOA dues, estimated homeowners insurance, and mortgage insurance when it applies, plus its own closing cost estimate and APR disclosure.

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Related: what you need to buy a house in Arizona · prequalification vs. preapproval · how much house can I afford? · Non-QM loans · more questions.

General information, not a loan offer or a promise that you'll qualify. Document lists vary by loan program and lender. Your tax preparer can help with your returns.

More Arizona home buyer questions · Calculators · Homes by monthly budget · All Arizona cities

Sources

• Fannie Mae Selling Guide, B3-3.5-01 Underwriting Factors and Documentation for a Self-Employed Borrower (12/13/2023) (retrieved November 3, 2026)
• Fannie Mae Selling Guide, B3-3.1-02 Tax Return and Transcript Documentation Requirements (06/03/2026) (retrieved November 3, 2026)
• Consumer Financial Protection Bureau, Create a loan application packet (retrieved November 3, 2026)

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