VA Home Loan if Self-Employed

Can I Get a VA Home Loan if Self-Employed?

Do you own a business and want to buy your own home with a VA home loan? Good news, it’s possible. Self-employment can pose challenges when purchasing a home with any loan type. The income of self-employed individuals can be variable which requires more documentation than those receiving fixed monthly salaries. Continue reading to see how to get a VA home loan if self-employed.

Can I Get a VA Home Loan if Self-Employed?

What’s considered self-employed?

First, let’s define the term “self-employed.” You are considered self-employed when you meet any of these four criteria: you are the sole owner of a business, you own at least 25% of a business, you work as a freelancer, or you are a contract worker. Every lender has different policies and guidelines of VA loans for self-employed veterans, so be sure to check with your lender to get the exact guidelines.

Documents required for self-employed individuals to get a VA home loan

The biggest challenge is gathering all of the documentation to show you are a strong borrower as a self-employed individual. Lenders need a healthy amount of information to decide to give you the loan in addition to usual requirement on the VA home loan application. These additional requirements include your current financial statement, two consecutive years of individual income tax returns, two consecutive years of business tax returns, and list of your partners/stockholders. Additionally, you may need letters of recommendation from your business partners that you will responsibly handle a home loan.

Freelance workers and VA home loans

Yes, it’s possible for freelance workers to obtain a VA home loan. Individual tax returns and all applicable income documents for two years should be submitted. If you’re self-employed, stability is only considered if the business has been operation for at least two years. In addition to the life of the business, a profit and loss statement for the current year is required if the taxes have not been filed. This allows the lender to determine if the business is heading in the right direction and whether the lender is confident that you will be a strong borrower.


In conclusion, yes it’s possible to obtain a VA home loan if you are self-employed, it just requires a bit more documentation. This may sound exhausting, but it is reasonable that lenders need to see that your business is reliable and sustainable.

Michael Fornerette at Fairway Tacoma can help you get the paperwork needed to get your VA loan approved. Call (253) 830-2312 today to get started!

You may also like: Reasons to Attend a Fairway Tacoma First Time Home Buying Class

2 replies

Trackbacks & Pingbacks

  1. […] You may also like: Can I Get a VA Home Loan if Self-Employed? […]

  2. […] You may also like: Can I Get a VA Home Loan if Self-Employed? […]

Comments are closed.