01
Tell the income story
Business revenue and personal qualifying income are not the same. Explain your business history, how you pay yourself and any unusual changes between years.
02
Get documents organized
Tax returns, notices of assessment, business financial statements and bank records may be requested. Requirements differ by lender and program.
03
Compare the trade-offs
Alternative documentation may involve a larger down payment, higher rate or fees. Review both the current cost and a realistic longer-term financing plan.
Bring to your conversation
- Recent personal tax returns and assessments
- Business financial statements
- Business and personal bank records
General information only. Product availability, eligibility and conditions vary by lender and application.