Self-Employed borrowers write-off their business expenses and should not be required to produce tax returns to qualify for a good home loan. Not at any time before the approval, during escrow or after closing will a 4506-T Form be signed. Learn why this is important to self-employed borrowers. Be prepared and learn your options for yourself for a clean approval and quick escrow turn times, before you apply. Form 4506 T loan options level the playing field between W2 Wage Earners and the self-employed (including 1099 Independent Contractors) business owners.
Alt Doc, Reduced Doc, and Lite Doc, Non-QM lender programs make this possible. Example loan programs do not require personal or business tax returns or tax transcripts (form 4506-c).