Self Employed and to get a Mortgage

So you want to be a home owner, but working for yourself its tough to convince lenders your business is a good as you claim it is (lol). They will use the average income of the last 2yrs to determine the amount you can borrow and equally important the interest rate which the loan will be at.  What to do you ask?...first is to give up some of your deductions, perhaps forward them to a following year like your depreciation of equipment, travel expenses, medical etc. This will bring your income up and get that debt to service ratio in the right direction but on the down side your tax bill will be higher, but hey something got to give hahaha. Ask others in your type of business who they use for a mortgage broker, a person that would know your industry and its quirks. A savvy agent can get around roadblocks that some banks put up or maybe even use private lenders. Finally, having more than the minimum down payment will make any lender take notice plus your eliminate
the high mortgage insurance fees.               Happy House Hunting!!