With the market changing everyday, it is getting more difficult to get a home loan.  This is especially true for those of you that are self-employed.  Many lenders have tightened loan programs and made qualifying for loan programs more difficult.

Here is a list of a few things that you may need to keep in mind:

Paperwork-Paperwork-Paperwork - Gone are the days of "stated" programs. If you are self employed chances are you will need to go "full doc".  What does this mean?  It means you will have to have at least the following items: 2 years tax returns, 2 month bank statements, 2 years in the same line of work, and a  business licence.

More Money Down - 100% financing may still be an option but be prepared to put 5-20% down depending on your debt-to-income ratios and your credit score.

More Taxes - It is important that you show as much income as possible on your taxes.  It's easy when you are self employed to take advantage of every possible deduction.

Good Credit - You will need to have a decent credit score. The higher the credit scores the more loan options that are available.

One last item needed to qualify for  a mortgage is time management.  It is important to remember that when dealing with contracts, time is of the essence.  What does this mean?  It means that whatever your real estate consultant or mortgage consultant tells you to do....do it quickly.  Wasting time could cost you money!

For more information on buying a home visit:

www.ExecutivePropertiesOnline.com