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How does trading loss affect mortgage qualification?

How does a forex trading loss affect my ability to qualify for a mortgage? Does the loss count against my income for the mortgage application?

Harry Jensen, Trusted Mortgage Expert with 45+ Years of Experience
, Trusted Mortgage Expert with 45+ Years of Experience

If the forex trading is an ongoing activity or source of income (or losses) for you then the loss will affect your ability to qualify for a mortgage. If the forex trading loss is a one-time event and not an ongoing activity then it should not factor into your income when you apply for a mortgage. Lenders review a borrower's tax returns for the prior two years when you submit your mortgage application. If the forex trading gain / loss appears on your tax returns in both years then lenders will factor it into your income. If the forex gain / loss only appears one year then the lender will likely not include it in determining your income. For a one-time forex loss, you may be required to provide a letter that explains the event and indicates that it only occurred once.

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About the author

Harry Jensen, Mortgage Expert

Harry is the co-founder of FREEandCLEAR. He is a mortgage expert with over 45 years of industry experience. Over his career, Harry has closed thousands of loans for satisfied borrowers and now offers his advice and insights on FREEandCLEAR. More about Harry

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