Entrepreneur verses Employed Person eligibility

[Rebecca_Adams]

Is it true that banks are more reluctant to grant housing loan to an entrepreneur than to an employed person?

[Dennis Ng]

Is it true that banks are more reluctant to grant housing loan to an entrepreneur than to an employed person?

not really.

But for self-employed or entrepreneur, banks need min 2 years of past years' income to compute average income, while an employee bank can take the latest payslip as income. Thu,s it is almost impossible to get a loan during first 2 years of setting up a business, whether for business purposes or for personal purposes eg Housing Loan.