When applying for a home loan, a lender must be satisfied that you can afford the loan you are applying for. Usually, they will review payslips, tax returns and other income to determine how much you can afford if you are employed by somebody else.

Lenders assess self-employed income a little different, as It’s not as consistent as someone receiving a regular salary or wages. Self-employed income is usually not consistent, as one year varies from the other.

Lenders will assess your last 2 years of income tax returns to establish an acceptable income that can be used to calculate how much you can afford, but what if you haven’t done your tax returns?

Here are 3 ways you can obtain a loan being self-employed