Due to the mortgage crises that happened several years ago there have been several changes in the lending process with respect to obtaining financing (home mortgage/loans) for primary residences in Charlotte and North Carolina. One of the biggest changes is that lenders now require more documentation (Proof of income from a certified public accountant) than ever to close a home mortgage/ loan for self-employed individuals. The purpose of all this information is to provide evidence about a self-employed person's income for the past two years which will enable lenders to determine the amount of mortgage/loan to approve.

The new requirements can be especially challenging for self-employed individuals who do not use a certified public accountant. Lenders in Charlotte, NC consider anyone who owns more than 10% of a business that is the primary source of income as self-employed. If you are considered self-employed your lender will ask for your personal tax return and business tax return for the past two years. Most lenders will require a self-employed person to furnish a letter from a Certified Public Accountant (CPA) stating that the borrower has been self-employed for at least two years.

Some lenders require self-employed individuals applying for a Veterans Administration home loan to provide a current year to date income statement prepared by a Certified Public Accountant (CPA) as part of the home loan application process. A year to date income statement prepared by a CPA is routine if you already have monthly write-up for the business being performed by a CPA, however, if  this service is not being performed then your loan application may be in jeopardy until you find A CPA.

If you are self-employed and live in Charlotte or else where in North Carolina and are in the process of applying for a home loan please contact us if you need a year to date income statement prepared by a CPA or  mortgage letter from a CPA confirming that you have been self-employed for the last two years.

CPA Self-Employment Verification Mortgage Letter

We assist self-employed individuals throughout North Carolina and the rest of the country.

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Melbourne, FL CPA