Can I use self-employed income for FHA?
Yes. FHA usually wants 2 years of self-employment history and 2 years of personal and business tax returns.
What this actually means.
Income is calculated from net (post-deduction) tax-return income, not gross deposits. A 1-year history may work if there is a strong prior W-2 history in the same field. Bank-statement and 1099 alternatives exist, but they are non-QM, not FHA.
Where this can move.
Income type, employment history, debt ratio, reserves, automated underwriting findings, and lender overlays can change the answer.
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Educational only. FHA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with HUD, FHA, or any government agency.