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    Edmundo Daco Jr.

    Not only are wage earners eligible to apply for home loans, even those self-employed individuals like dentists, doctors, and businessmen. For self-employed individuals, the home loan application requirements include:

    1. Proof of Income (signed and filed federal income tax returns for the past two years, year-to-date profit and loss statement)
    2. Proof of a 12-month history of rent (bank statements, payment records, money orders, letter from the property company, rent verification form)
    3. Proof of funding (savings or checking accounts, bonds, stocks, assets)
    4. Credit report
    5. Property documents (map, layout plan, other documents)

    Banks and lenders may have their own set of requirements for a home loan application, but these are the most common ones.

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