No W-2 Loans

Freelance and contract work have grown in popularity in recent years. While it is a great way to create a more flexible schedule that allows more time for family and friends, it does complicate the process of getting a home loan.

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What are W2s?

Before we get into how to qualify without a W-2, we should explain what a W-2 is. A W-2 is a form you get from an employer to report your salary or wage information to the IRS. A W-2 also discloses how much you paid in state and federal taxes. Most employees who work for someone else receive a W-2 at the end of the year.

However, if you’re one of the millions of Americans who do not receive a W-2, this is what you’ll need to show to get a home loan in Colorado.

Tax Returns

If you don’t have a W-2, we can verify your income by looking at previous years’ tax returns. We will need to see at least two years of an income level that will qualify for the amount of money you’d like to borrow on your tax returns.  

Bank Statements

Another way we can get you approved for a mortgage in Colorado is by looking at your bank statements for the last 12 to 24 months. We do this quite frequently for self-employed borrowers.

Would You Like More Information On Getting a Mortgage Without a W-2?

If you do not receive a W-2 but are interested in getting a loan, Home Loans can help. We will review what financial documents we need from you to get you approved for a mortgage. Give us a call or apply here so we can get started.