I own a home that I am now leasing. I am renting a condo from a friend for the next 6 months until the lease on the house matures and I can get approved for a second home. I have 2 years of tax returns showing solid employment, income, etc. But I am dying to start my own business, I have work rolling in like crazy NOW and could be making twice as money. I cannot remember if I had to show pay stubs/ proof of income when I went through the pre qualification process for the mortgage. Can I quit my job now, run my own company, show the 2 previous years of tax returns with solid employment and still get approved for another mortgage? I know if you are self employed you have to show 2 years of returns for that company but there has to be some sort of legal loophole of getting around this.
Read more: Do I have to be employed to buy a house?
