You will need to provide more extensive paperwork than a traditional W-2 employee.
Ideally, your total monthly debt obligations (including the new mortgage) should be below 40–50% of your monthly income. Essential Documentation how to buy a house if you are self employed
A CIBIL score of 750 or higher is generally preferred to signal disciplined repayment behavior. You will need to provide more extensive paperwork
Most lenders require your business to have been operational for at least 3 years . how to buy a house if you are self employed
Lenders look for specific indicators of stability to mitigate perceived risks associated with fluctuating income.
Buying a home while self-employed is highly achievable but requires demonstrating a over a continuous period. Unlike salaried employees who provide payslips, self-employed individuals must prove their repayment capacity through tax returns and business records. Key Eligibility Factors