There's no doubt about it, it
could be more difficult for you to get a mortgage loan if you are a free lance
viola player than if you are a government accountant. Traditionally lenders have
been more cautious when evaluating loan applications of buyers who are
self-employed than people who work for a regular salary.
If you are self-employed, there is no reason for
you to shy away from applying for a home mortgage loan, however, especially if
your earnings have been in the same field for at least two years. It is a good
idea to meet with one or more loan officers before you begin your search. They
will probably want to analyze your tax returns for the past 2 or 3 years,
keeping in mind that many self employed people can look impoverished on paper,
since you can write off some expenses that salaried individuals can not. Try to
get pre-approval by the lender, and ask for a letter stating that you have
pre-qualified for a loan which the Realtor can attach to any offer you submit on
a home. This will make you more attractive to the sellers.