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?

Update:

He lives in Minnesota

3 Answers

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  • 1 decade ago
    Best 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.

  • 3 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.

  • 1 decade ago
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