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When Is 1 Year of Self Employment/Tax Returns OK?

We recently touted the need for access to Freddie Mac, and we failed to mention one of the most important reasons of all. Freddie often only asks for 1 year of tax returns for income verification for strong borrowers.

This feature is often a deal-saver for us when self-employed borrowers either: (1) have very low profits in prior years: or (2) have limited self-employment history. Self-employed borrowers do not always need a two-year history.

We have closed many transactions that would have not closed without this provision.


Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646