As an Uber driver, you may be wondering about your home financing options. Good news – it’s achievable! However, there are a few key considerations. First, lenders may require a larger down payment, typically around 20%, due to the nature of your work as an independent contractor. This higher down payment helps demonstrate your financial commitment and mitigates your risk. Secondly, income verification is crucial. Lenders will generally ask for your last two years of tax returns to assess your ability to make regular mortgage payments. If you’ve been driving for Uber for six years or more, additional years of tax returns may be requested. So, as an Uber driver, you can finance a home, but be prepared for these specific requirements – a larger down payment and thorough income verification.
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As an Uber driver, you may be wondering about your home financing options. Good news – it’s definitely achievable! However, there are a few key considerations. First, lenders may require a larger down payment, typically around 20%, due to the nature of your work as an independent contractor. This higher down payment helps demonstrate your financial commitment and mitigates their risk. Secondly, income verification is crucial. Lenders will generally ask for your last two years of tax returns to assess your ability to make regular mortgage payments. If you’ve been driving for Uber for six years or more, additional years of tax returns may be requested. So, as an Uber driver, you can absolutely finance a home, but be prepared for these specific requirements – a larger down payment and thorough income verification.