What if I am a Self Employed Veteran?

If you are self employed you can still be approved for a VA loan, however it is more difficult than for those who are standard wage earners.  Prior to the housing meltdown around 2007, doing a stated income loan where you do not have to show how you were paid was easy to come by. 

Today, the stated income loans are now extinct.  In order to be approved for a VA loan you must show that you have stable employment and this is normally done with the past two years W-2s and/or most recent paycheck.  If you're a self-employed you are going to need to show at least two years were tax returns along with all schedules.  If you have not been self-employed for entire two years then the chances of getting approved for a loan are slim to none.

Get answers to your other VA loan questions here.