Acceptable forms of business verification for a refinance?

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I’m trying to get a refinance on my home loan. I’ve been self-employed for the last 8.5 years (photography + computer programming consulting). I do my taxes on my own (ie. no accountant, no CPA) and have no business license. I receive payment by check or paypal.

The mortgage broker is telling me the lender requires verification of my business and they’re asking for either a letter from my CPA or my business license, neither of which I have. Are there other acceptable forms of verification for my business that would work for the lender?
Thanks for the replies so far! My work is photography on the weekends and computer programming consulting on the weekdays. I’ve actually already given them my taxes from the last two years, which of course includes all of my income for the last two years. They’re still asking for one of the other two forms of verification, however, and I’m just wondering if this is standard practice or if there would be any other forms of verification that they should accept.

4 Comments
  1. Reply
    debijs
    May 4, 2011 at 1:19 am

    ~~You income tax forms should be sufficient. They should want the last couple of years. I’ve never heard of having to furnish a note from a CPA or a business license before. hey can and probably will want to see your last 2 years of income tax, and maybe 2 to 6 months of checking account statements.~~

  2. Reply
    Curious
    May 4, 2011 at 2:11 am

    Your taxes should be sufficient. If you aren’t paying taxes, you won’t get the re-fi.

    FYI – you are probably in violation for not having a business license. Check with your city.

  3. Reply
    STEVEN F
    May 4, 2011 at 2:18 am

    TAX RETURNS. Lenders tend to assume you won’t tell the IRS you made more than you actually did. If they don’t accept your tax returns, you can request a copy of what you actually filed from the IRS, and have it sent directly to the lender. In the final analysis, ONLY the lender can answer this question. They are free to accept or reject ANY documentation THEY choose.

  4. Reply
    Joe Sheehan
    May 4, 2011 at 2:45 am

    It sounds like you are an independent contractor. Normally businesses issue you a 1099 if you contract with them for more than $ 600 in a year. The 1099’s and any directory either online, yellow pages or website should satisfy the verification of your actual business. The broker should also be able to request copies of your IRS tax transcripts from their credit report service. This verifies you filed the self employment income for the prior 2 years according to the IRS official record. If that is not enough, seek a loan officer that has direct access to the underwriter. You should be able to get this done.

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