To qualify for a home loan as a self-employed individual, you must provide sufficient evidence of your income and financial stability to the lender. Maintaining a good credit score, providing business and personal bank statements, income tax returns, balance sheets, and profit and loss statements are all part of this. The nature of your business, its track record, and future earnings potential may also be taken into account by the lender. A larger down payment and a good credit score may improve your chances of loan approval and assist you in negotiating favourable loan terms, such as a lower interest rate or a longer repayment term.
