The VA Loan and Self-Employed Income

Welcome to the Vetted VA podcast. The VA Loan Your Journey Home. This is a podcast where we go beyond the surface of VA home loans. Join us weekly as we team up with leading mortgage and real estate experts who've gone through the vetted VA training and vetting process. We dive into everything you need to know from your initial contemplation of buying a home.

In this episode of the VA-Your Journey Home podcast, the hosts are going to focus on self-employed borrowers and VA mortgages. They're discussing a complexities and nuances of obtaining a VA loan as a self-employed individual. Some of the key points we're going to talk about documentation for self-employed borrowers. Challenges with self-employed income planning and communication with CPAs. Using business assets for closing, flexibility in VA loan guidelines, the importance of detailed records, risks, and regulations, and so much more. We hope you get a lot out of this, because we're trying to bring you all the information we can think of that will possibly hinder from getting a VA loan if you are self-employed. Let's get started.

We hope you enjoy the show. We hope you enjoy this. And if you have any other follow-up questions. Let us know at info@vettedva.com.

Enjoy!

00:00 Introduction

01:38 Why is self-employed income treated differently than others

04:15 Self-employed income is variable

06:52 VA Guidelines for Self-employed Borrowers

08:11 Timeline for how long you need to be self-employed before you are eligible for a loan

12:44 One year is doable

13:10 List of things an LO will ask someone who has been self-employed for a year or less

16:19 How filing taxes affect your home loan

23:30 What documents will be needed

31:03 Can an LO use a business account/assets for closing costs

37:00 Risks the VA is trying to avoid

41:32 Plan ahead

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Christopher Griffith on LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Nathan Knottingham of Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Christopher Griffith on Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

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⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Vetted VA Website⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠The episode on YouTube⁠⁠⁠⁠⁠⁠