Which duration best describes the requirement for income stability for self-employed members?

For self-employed individuals, the requirement for income stability is primarily focused on demonstrating a consistent and reliable income stream over a significant period. The expectation is that self-employed members should ideally showcase their financial stability through at least two years of self-employment within the same industry. This duration allows lenders to assess the individual's business performance, fluctuations in income, and overall sustainability of their self-employed venture.

By requiring two years in the same industry, lenders can evaluate trends in the individual's earnings and ensure that their business is not experiencing severe variances that could affect long-term viability. Additionally, consistency in the same industry helps affirm that the individual possesses a certain level of experience and expertise, which can contribute to income stability.

In contrast, shorter durations or less stringent requirements do not provide enough insight into the individual's ability to sustain their business or predict future income levels reliably. Lenders seek to minimize risk by opting for proven stability, hence the emphasis on two years in self-employment within the same industry.