Getting a mortgage when you are self employed can be made easier if you understand some of the things the banks look for. The income piece of your application requires a little attention and usually by someone who understands self employment.

Here are some of the things we consider when putting together an attractive home loan application for our self employed clients:

Home office expenses should be outlined separately in the books to ensure that the bank does not double up this expense.

It can help to get cash flow forecasts prepared if there is less than two years worth of history available and or if it supports certain positive trends

Any one of large expenses or dramatic trends in sales figures should be explained

We find it helpful to also put together background information on your experience in your particular industry.

You work hard for your business so it is important that we take the care to present your application in the right light. We find that keeping the communication lines open with the accountant can mean a speedy turnaround. It is important to start thinking through some of the requirements well before lodging the application so that you can be ready.

Call us for a chat about what the numbers may look like based on any income scenarios you have.