A borrower is self-employed. Which documents would an underwriter MOST LIKELY require to verify income?

Correct answer: Two years of personal and business tax returns

Self-employed borrowers typically must provide 2 years of personal AND business tax returns (including all schedules), plus a year-to-date profit and loss statement. W-2s are for salaried employees. Verbal VOEs verify employment for W-2 earners, not self-employed income.