as an independent contractor what do i need for a loan?

Only income that you pay taxes on can be considered.. if you're an IC, then the lender will require 2 years filed, federal tax returns to determine your qualifying income, along with 2 monthly bank statements, and your w2's / 1099's. If your year over year income is declining, then the lender will use the lower of the 2 years for qualifying purposes.. if your year over year increased, then the average of 2 years would be considered.. if you don't report your tips, then that income does not exist in the lenders eyes.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

You can provide your last 2 year IRS form 1040, 1099's, and a 2014 first quarter Profit and loss statement. If you are buying a home you'll need to provide bank statements for reserves or proof of funds. Good luck!