Mortgages the self-employed?
My son is looking for a home loan and he is self-employed.Are there any mortgage companied that specialize in 1st time home buyers that are self-employed?
He lives in Minnesota
- Genuine GuidanceLv 71 decade agoFavourite answer
Be sure he has 2 years of tax returns.
Hopefully he isn't taking so many deductions that it leaves him with a net income that is too low to get a decent mortgage
They go by your net on self employed people, that's why we have to bite the bullet and not take so many deductions before we want a mortgage.
I do not know of a company that specializes, but if you visit a loan broker, he might have some leads for you.
- prantherLv 44 years ago
coach your 1040s and your deposits at the instant. you're allowed to strengthen your earnings! yet for purposes of a loan, they are extra drawn to long term earnings than a speedy uptick. What is going up can go down. So, they're going to make the determination on your previous 2 years earnings statements yet may well be inspired that your enterprise is exhibiting an upward vogue.