I am self employed what will lenders accept in place of a pay stub?

I am self employed what will lenders accept in place of a pay stub?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Will lenders look at my bank accounts?; What can I do if I am rejected for a mortgage loan?; How much of my monthly payment is considered interest? and more...

Nowadays regarding the self employed individual, the lending institution realized they were missing out on a very large market segment. What I mean by that is most self employed people usually have a lot of expenses to write off, and the lending institution, that underwriter of the bank, are just going to take what's on your tax return down at the bottom; what's called your adjusted gross income. So you might make $500,000, but on your adjusted gross income, it's only going to show you make $50,000. Therefore, if you're self employed, you need to go stated, and once again, most banks nowadays don't hit you very much as far as an interest rate if you have to go down the stated route.