Self Employed Loans

Self Employed Loans

Items you need to prepare:

  • Many people are self Employed and write-off many items, however by writing off expenses in the two years prior to obtaining a home loan your NET Income is reduced. You must make sure that you do not go too drastically different from one year to the next.
  • Lenders are going to look at the average net income over the past 24 months, they will use that figure to see how much you may qualify for.
  • Consult with a Mortgage Planner like Great American Funding Corp. to plan for the home loan your are requesting.
  • If you need to Refi now, or Purchase NOW, we can assist you with Private Estate Funds as a Temporary fix until your tax returns show enough to qualify for a conventional loan.
  • Do you run all you bills thru the Business?
  • We also have Private IRA funds that do not have the strict requirements that convention lenders do.

Case Story #1

Too many properties, this Borrower had more than 4 properties – he was considered in the Rental Business.

Case Story #2

Credit Report reviewed – Showed many cards used to the limit of the card.  We worked with the Borrower on a step by step basis to finally obtian the loan they requested!

You need to plan for  Conventional or FHA loans.  We can help. Call Steve at 805-374-6000