Self-employed and house hunting? Here’s tips on how to get your mortgage


Self-employed professionals can qualify for a mortgage, but the process differs from traditional borrowers. Proper documentation, such as tax returns and profit/loss statements, is key.

Client celebrates business deal
Photo: Kraken Images/Unsplash

StatePoint - If you’re self-employed or own a business, you may be wondering if it’s possible to get a mortgage.

The short answer is yes, you can, but the process will look different. You’ll need to provide documentation verifying your employment and lenders will be analyzing your financial situation and the financial situation of your business to see how likely you are to pay back your loans in a timely manner.

To help you put your best foot forward, Wells Fargo is offering guidance on navigating the home loan process.

What does it mean to be self-employed?

Typically, lenders consider an applicant self-employed if they meet any of the following:

  • They own at least 25% of a business
  • The ownership of a business is their major source of income
  • They complete a 1099 tax form during tax filing instead of a W-2
  • They’re an entrepreneur or sole proprietor whose income is filed under Schedule C of their tax returns
  • They’re an independent contractor or service provider

If you fit into these categories, you’ll also need to show lenders verified employment records or proof of self-employment during the past two years. Lenders are ideally looking for your business to have been active for at least 12 consecutive months. They review the overall health of the business, looking at both net income and expenses.

What employment documentation is needed?

When lenders review your application, they’re analyzing items like how stable your income is, if your business has strong finances, and what the future may look like for you and your business. Any of the following forms of documentation can help lenders show proof of your employee verification:

  • Business licenses and/or DBA certificates
  • Proof of correspondence with CPAs and/or clients
  • Proof of business insurance
  • Profit/loss statements or balance sheets reflecting your business’s performance
  • Lenders’ requirements vary. Check with yours for what will be required for your situation.

What tax return requirements are needed?

Personal tax returns under IRS Form 1040 include various schedules. Commonly used schedules are:

  • Schedule B (Form 1040) – Interest and ordinary dividends
  • Schedule C (Form 1040) – Profit or Loss from Business (Sole proprietorship)
  • Schedule D (Form 1040) – Capital Gains and Losses
  • Schedule E (Form 1040) – Supplemental Income and Loss
  • Schedule F (Form 1040) – Profit or Loss from Farming
For business tax returns, a business may choose to report taxable income either on a calendar year or fiscal year basis. Commonly used forms include:
  • IRS Form 1065 – U.S. Return of Partnership Income
  • IRS Form 1120S – U.S. Income Tax Return for an S Corporation
  • IRS Form 1120 – U.S. Corporation Income Tax Return

What factors show the strength of your borrowing ability?

Having a favorable debt-to-income ratio and credit score. A strong credit history shows lenders your ability to repay debts and utilize credit responsibly.


If you are self-employed, there are methods available to help make your goal of homeownership a reality

Staying organized. Keep expenses separate if you have multiple income sources, and separate business and personal accounts so that lenders can more easily tell which assets are which.

Having additional support, especially for closing. Certain factors may lower your risk for lenders, like utilizing a co-signer or borrower or paying a higher-percentage down payment than what’s required.

What’s next?

If you are self-employed, there are methods available to help make your goal of homeownership a reality. For example, eligible self-employed borrowers with Wells Fargo may have access to a variety of loans, such as VA or FHA loans or Wells Fargo products like Dream. Plan. Home. and the Homebuyer Access grant. Information can be found online about the eligibility requirements and personal tax implications of these products.

Talk to a home mortgage consultant to learn more about what your mortgage process may look like. Also, check out Wells Fargo’s home lending portal for personalized rate quote tools and for its content library featuring helpful articles. These can be found at https://www.wellsfargo.com.

“While self-employment makes obtaining a mortgage a bit more complex, your lender will walk you through the process, step by step,” says Rulon Washington, mortgage sustainability, Wells Fargo.



Tags: self-employed mortgage process, Wells Fargo home loan guide, mortgage approval for business owners, freelance home loan requirements, entrepreneur home financing tips


The Sentinel On This Day |
November 6


In a month marked by remembrance and gratitude, we revisit stories that defined our region — honoring veterans, celebrating Thanksgiving, and spotlighting moments of unity, resilience, and spirited debate.

From local news, sports, and community events to politics, and Opinion-Editorial viewpoints, discover archived posts published on November 6 in previous years, offering a rich tapestry of life in Champaign County and the broader community, curated by The Sentinel. Here are the headlines from local news, sports, community events, and editorial viewpoints in and around Champaign-Urbana.

Sentinel Article Archive for November 5



Loading posts from this day…


~ More Articles ~

November 7 Archives

Cozy and practical: Home decorating trends for 2025 small-town living


Create a warm, welcoming home that feels inviting for both family and guests.
Photo: Mateusz Pielech/PEXELS

Create a warm, welcoming home that feels inviting for both family and guests with a small-town inspired living room with wood accents, plants, cozy seating, and rustic modern decor under a staircase.



Forget flashy makeovers - 2025 home decor is about heart and practicality. Country neutrals, curved furniture, and personal keepsakes lead the way.


SNS - Home decorating trends continue to evolve as families look for cozy, practical, and appealing spaces that feel good to live in every day. Many people now focus on comfort, personal style, and making the most of each room instead of adding unnecessary items. The goal is to create a warm, welcoming home that feels inviting for both family and guests.

Explore simple ideas that help you refresh your home without major changes or heavy spending. These home decorating trends are easy to apply, budget-friendly, and designed for everyday living.

Warm Country Neutrals With Simple Pops of Color

Warm country neutrals are rising because they create calm rooms with charm. Soft cream, sand, beige, and wheat shades work well on walls and large furniture, and choosing the right color palette makes these tones feel even more welcoming. They set the stage for small pops of color through pillows, curtains, or one accent wall inspired by current home decorating trends. Try barn red, deep green, or navy in accessories to add interest without overwhelming the space. This approach is low-cost and easy to adjust each season.

Practical Furniture Built for Family Living

Households need furniture that serves daily life with family, friends, and frequent gatherings. Choose sturdy pieces that stand up to kids, pets, and muddy boots. A large kitchen table often doubles as a homework or craft zone. A storage bench by the entry holds shoes, hats, and coats. A pull-out couch helps host relatives during holidays. Practical pieces keep life simple and give every room a clear purpose.

Natural Materials for a Warm, Homey Feel

Natural materials support a warm and grounded home. Wood, cotton, wool, jute, and stone fit both farmhouse and small-town styles. A wooden dining table, cotton curtains, and a wool throw add comfort without feeling formal. Wicker baskets hold toys, blankets, or magazines while adding texture. These pieces age well and often cost less over time because they last.

Curved Shapes for Softer Spaces

Curved furniture and decor make rooms feel cozy and friendly. Rounded armchairs, oval coffee tables, and circular wall mirrors create flow and soften sharper lines. This works especially well in smaller homes because curves make rooms feel open and less boxy. Mix one or two curved items with simple straight pieces for balance.

Houseplants for a Lively, Fresh Touch

Houseplants remain popular, even in rural homes where many people already enjoy outdoor gardens. Plants bring movement and life inside during winter or rainy days. Choose low-maintenance options such as spider plants, pothos, or snake plants if you have a busy schedule. Use mason jars, tin pots, or old wooden crates as planters to add small-town charm at little cost.

Personal Decor That Shows Your Story

More families are adding personal touches rather than copying catalog rooms. Display old family photos, quilts from grandparents, or handmade items from local craft fairs. A shelf of children’s art, travel souvenirs, or farm tools turned into decor can share your story. These meaningful details make guests feel welcome and fill your home with character.

A Fresh Start for a Tidy and Open Home

Many families want a clean start at home, so they aim to start fresh without the extra stuff. Learning how to downsize your belongings before a move can help, even if you plan to stay put for years. These same steps clear items that no longer serve a purpose and make room for what you actually use. It helps to go space by space. Tackle the mudroom first, where boots, coats, and farm gear often pile up. Then move to closets, kitchen drawers, or the spare room full of hand-me-downs “just in case.”

A tidy room allows treasured decor, family quilts, or grandparent keepsakes to stand out instead of getting lost in clutter. Once unnecessary items leave the house, rooms feel open, calm, and easier to clean. With extra space freed up, new home decorating trends settle into the home with ease and fit your small-town lifestyle without feeling forced.

Smart Secondhand and Local Finds

Many families value smart spending, so secondhand options are growing fast. Thrift stores, yard sales, and online swap groups offer budget-friendly gems. Older furniture often has better quality than new budget items. A little paint, new fabric, or fresh hardware can give old pieces new life. Local makers at small-town markets can also provide decor that suits the area’s style without high prices.

Cozy Bedrooms for Better Rest

A calm bedroom helps busy families rest. Soft bedding, warm lighting, and simple decor support better sleep. Layer sheets, a warm quilt, and a throw for comfort. Keep nightstands clear and only keep what you use. Use soft lamps instead of harsh ceiling lights at night. If sunlight wakes you early, try blackout curtains to improve sleep.

Welcoming Living Rooms With Simple Layers

Layering works well in living rooms without large upgrades. Add pillows in cotton or flannel, a soft rug, and a knit throw for warmth. Use woven baskets to store games, blankets, or remotes. Keep open surfaces clear so the room feels tidy and calm. These easy steps make the space warm for family time or weekend visitors.

Simple Storage Solutions for Busy Households

Clutter can make even a well-decorated room feel messy, so smart storage helps keep order. Place hooks in entry areas for coats and bags. Add shelves in laundry rooms or mudrooms to hold boots or supplies. Use labeled bins in closets to sort seasonal items. Good habits help keep your home neat and peaceful.

Lighting That Sets the Mood for Small-Town Homes

Lighting changes how a room feels and works. Use a mix of ceiling lights and small lamps. Warm bulbs support restful evenings. Cool bulbs work well for tasks such as cooking or reading bills. In small homes with limited windows, add mirrors to reflect daylight. Try table lamps or string lights for cozy corners, reading chairs, or porches.

Wall Texture for Depth and Interest

Flat walls can feel plain, so many homeowners add simple wall texture. Wood paneling, beadboard, or a single wallpaper wall can refresh a room. Choose a soft pattern if you enjoy a calm design. For a stronger detail, try plaid, floral, or farm-inspired prints in a small space such as a hallway or entry.

Small Updates With Budget-Friendly Results

  • You do not need a full makeover to refresh your home.
  • Change pillow covers with the seasons.
  • Paint one wall for impact instead of the whole room.
  • Update kitchen handles or light fixtures for a quick lift.
  • Add a runner in hallways to soften the floor and bring color.
  • Move furniture to open space or improve seating for guests.
  • If you have the time, you can try some easy DIY woodworking projects.
Small changes add up.

Mixing Old and New for a Collected Home

Many families mix new items with old pieces that carry history. A modern lamp on a vintage sideboard can look charming. A new rug under a hand-me-down sofa keeps costs low but updates the room. Choose pieces that feel right for your home and daily life. Trends are helpful, but comfort matters most.

Country Comfort Indoors Inspired by the Outdoors

Many small-town families bring outdoor comfort inside, especially after nailing your outdoor holiday decor and wanting that same charm indoors. Add wood accents, metal barn-style pieces, or handmade pottery inspired by simple home decorating trends. Use farm tools or vintage signs as decor on a porch or mudroom wall. These details make the home feel warm and personal. Stick to a few key items so the room stays tidy.

People want comfort, warmth, and homes that support everyday life, so home decorating trends reflect that practicality and coziness. You do not need expensive decor to make a difference. Start with small changes, clear clutter, and add items that reflect your story. Use color, lighting, and sturdy furniture to fit your family’s needs. With thoughtful updates, your home can feel fresh, welcoming, and true to your small-town roots. Feel good to you. Use storage, lighting, and flexible furniture to help each room work better. With a few updates, your home can feel fresh, warm, and truly yours.



TAGS: 2025 home decorating trends, small-town home design, cozy country living, affordable interior updates, natural materials and warm colors



High School Sports


  • Loading…






More Sentinel Stories