I am currently self-employed. What will a mortgage lender look at on my taxes when I am trying to qualify for a mortgage? My total gross income or my income after business deductions?
Any lender may well look at both, plus any other numbers they have accessible. In today's lending environment, lenders are getting tougher. They want to see your gross income, as well as your net. They need to know that you have the capacity to make the payments, based on your historical income.
Regardless of what they'll look at, it shouldn't change any of your numbers, so it really shouldn't matter. Your financials are what they are. There shouldn't be a variance because you want to apply for a loan. The days of "this is what income is IRS reportable, but we know there is more" should be long gone.
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Any lender may well look at both, plus any other numbers they have accessible. In today's lending environment, lenders are getting tougher. They want to see your gross income, as well as your net. They need to know that you have the capacity to make the payments, based on your historical income.