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Bill would aid mortgage applicants who rely on the gig economy for earnings
September 6, 2018 /
Here’s some promising news for self-employed entrepreneurs, "gig-economy" workers and small-business owners: There’s a bipartisan push underway on Capitol Hill to make the home-mortgage process a lot easier for you.
For years, federal lending rules have favored applicants with easily documentable incomes — people who can show underwriters pay stubs, W-2s and two years of steady income plus the likelihood that it will continue. The same rules have made it challenging for people who work for themselves, earn money at multiple jobs or have big seasonal swings in what they earn.
By Kenneth R. Harney
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