For self-employed borrowers, what used to be the godsend was stated income loans.. In a stated income loan prior to the housing crisis, the lender did not verify the borrower's income using tax returns or W-2s.Nowadays, though, most mortgage lenders want to see at least two years of a self-employed borrower's Schedule C, the tax form that reports income or loss from a business.If income increases between year one and year two, the lender averages the two. If the second year's income is lower, the lender will use that number.ith tax day approaching, self-employed professionals planning to apply for a mortgage in the next few years should discuss the issue with their accountant now. If buying or refinancing a home is in your three-year plan, don't write off every business expense you can write off, Ruffner advises.