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Self‑Employed or Recently Promoted? Your Guide to Buying a Home in Las Vegas
- Arlie Janet Bagongon
- Aug 6
- 3 min read
Written by Kimberly Smith - Your trusted Las Vegas Real Estate Queen
Thinking your income path—whether self‑employment, a recent promotion, or a job switch—puts homeownership out of reach? Think again. With the right documentation and the right program, many Las Vegas buyers in these situations qualify sooner than they expect.
🧾 What Lenders Require from Each Type of Income Story
Self‑Employed Buyers
Most lenders, including FHA and conventional programs, typically require two years of signed tax returns plus supporting business documents such as profit and loss statements.
In certain cases, if you’ve been self‑employed for five or more years and have prior experience in the same field, you may qualify with just one year of tax returns. This exception usually requires extra documentation to show business stability.
Job Switchers & Recent Promotions
FHA loans: There’s no minimum time required in a current job if you can show at least 30 days of pay stubsand a consistent two‑year history in the same or a related field.
Conventional loans: If you’ve had an employment gap, many lenders want to see six months on the new jobbefore approval. Without a gap, shorter tenure may be acceptable if your new role improves stability or income.
Frequent job changes (three or more in a year): FHA may require additional documentation, like offer letters, training certifications, or explanations that show the moves reflect career progress.
Bonuses, Commissions & Overtime
These can count as income if you’ve received them consistently for at least 12 months. Lenders look for patterns that prove the income is reliable, not just a one‑time boost.
📋 Checklist: What You’ll Need
✅ Recent pay stubs (covering at least 30 days)
✅ Last 2 years of tax returns or W‑2s
✅ Profit & loss statements if self‑employed
✅ Offer or promotion letters if switching jobs
✅ Documentation showing 12 months of bonuses, commissions, or overtime
✅ A letter of explanation for employment gaps longer than 30 days or multiple job changes
❓ FAQs Buyers Ask
Can I qualify if I’m self‑employed but don’t have 2 years of tax returns? Sometimes. If you’ve been self‑employed for at least 5 years in the same line of work, some lenders may accept a single year of returns—though more documentation will be needed.
Is bonus or commission income accepted if I just started a new job? Usually not right away. Most lenders want at least a 12‑month history of that type of income before counting it.
If I’ve had 3+ jobs in the last year, is that okay? It can be. FHA allows it if each move shows progress. You’ll just need more documentation to explain the changes.
👑 Real Estate Queen Tip
Different buyers need different strategies — and that’s where I step in. I help you choose the right program and prepare the right documentation so your income story works for you, not against you.
🌟 Ready to Explore Your Options?
Whether you’re self‑employed, newly promoted, or navigating multiple job changes, your dream home in Las Vegas may be closer than you think. With the right preparation and lender match, we can make it happen.
👑 Kimberly Smith is a top Las Vegas Realtor known for her sharp market insight, strategic approach, and commitment to helping clients move smart—whether buying, selling, or just exploring what’s next. She’s not just a local expert—she’s The Real Estate Queen of Las Vegas.
📞 Connect with Kimberly:📍 Serving Greater Las Vegas | 🏡 Luxury + Residential
📲 (702) 291-7098
📱 Follow on Instagram: @realestatequeenoflasvegas
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