Why Write Offs Hurt Mortgage Approval: Self Employed Borrowers Beware!

Why Tax Write-Offs Hurt Mortgage Approval | Self-Employed Mortgage Income Explained (2026 Planning) If you’re self-employed, you’ve probably heard it before: “Write everything off.” And while write-offs can lower your tax bill, they can also seriously hurt your ability to qualify for a mortgage. In this episode of Mortgage Matters in Minutes, Brent Rasmussen—owner of Mortgage Specialists—explains why lenders use your tax returns (not your bank deposits) to calculate qualifying income, and how excessive business deductions can reduce your buying power. ✅ In this video, you’ll learn: Why lenders must use your net income after deductions Why you can’t use your “gross revenue” to qualify How business write-offs lower the income lenders can count Common write-offs that impact approval (vehicle, depreciation, home office, meals, Section 179) Why waiting to file taxes can delay mortgage approval How planning ahead (1–2 years) can improve your qualifying income The key strategy: balancing tax savings with mortgage eligibility If you're thinking about buying a home in 2026 and you're self-employed, now is the time to review your tax returns and create a plan—before you file. 🔗 Helpful Resources ☑️ Apply for a mortgage: https://mtg-specialists.com/online-application/ ☑️ Schedule a call: https://calendly.com/mortgage-specialists-omaha ☑️ Call: 402-991-5153 ☑️ Blog: https://mtg-specialists.com/blog/ ☑️ Reviews: https://tinyurl.com/55zft5ef 📱 Follow Mortgage Specialists 📘 Facebook: facebook.com/mortgagespecialists 📸 Instagram: instagram.com/mortgagespecialistsomaha 🐦 Twitter/X: twitter.com/MTGSpecialists Timestamps for MMM 194: Why Write Offs Hurt Mortgage Approval: Self Employed Borrowers Beware! 0:00 - Intro 1:58 - Working with a Tax Professional 3:18 - Claiming Less Income on Taxes 4:15 - Write-Offs 5:13 - Qualifying for a Mortgage as a Business Owner 6:40 - Conclusion 7:28 - Outro Licensing info: Brent Rasmussen, NMLS 5918 at Mortgage Specialists, LLC NMLS 2424 For licensing, go to www.nmlsconsumeraccess.org Address: 8420 W Dodge Road #113, Omaha, NE 68114 Equal Housing Lender Website: mtg-specialists.com Applicant subject to credit and underwriting approval. Restrictions may apply, contact Mortgage Specialists, LLC for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Mortgage Specialists, LLC does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Mortgage Specialists, LLC. Mortgage Specialists, LLC and its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Mortgage Specialists, LLC is a limited liability company organized under the laws of the State of Nebraska. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture, or any other government agency. Mortgage Matters in Minutes Episode 194: Why Write Offs Hurt Mortgage Approval: Self Employed Borrowers Beware!