03/12/2026
We’re sharing more expert advice from Nexa Mortgage Originator Charles Bowers. He has worked in the mortgage industry for nearly 20 years and before that, worked in finance at and . He has helped many small business owners qualify for a mortgage and buy a home. Here’s one of his expert tips: Beware the tax return trap!
Small business owners are incentivized to write off as much as possible on their tax returns. They can write off business expenses, like office space, internet, mileage, and office equipment. Writing off these business expenses makes it appear you have less income. A smaller income can mean you’ll qualify for a smaller loan, or with some lenders, you may not qualify at all. To read the full article go to behindtheshademn.com/expert-advice/.
Charles Bowers has worked in the mortgage industry for nearly 20 years. He says when you’re writing off expenses for your business, using your tax returns to qualify for a mortgage may not provide an accurate picture of your income. He suggests you use other financial documents.
One route to go is to use bank statements to show revenue from your business, says Charles. He can pull your bank statements for the past two years, showing all the deposits into your business account. So, rather than relying on tax returns, which have expenses deducted, bank statements show the total amount of money your business brought in.
“What lenders are typically looking for is decent credit, verifiable income, and some money to put down. I usually tell people I need at least 2 of those to get something done,” says Charles.
