There is some conversation out there that if you are self-employed, you cannot qualify for a loan; well, this is just wrong.
If you have been self-employed for at least 2 years you may be able to qualify for a loan.
Lenders will take the average of your net income over the last 2 years as reported on your tax return. This income can be reported in a variety of ways.
– On the Schedule C of your 1040, or Schedule K-1 if you file an S Corporation or Partnership return. They’ll also consider wages you pay yourself on a W-2.
– If depreciation is taken, it can be added back.
We have brokered loans to self-employed people. Contact us and we can help you pre-qualify.
We offer a variety product services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
AZ MB #0909580
CA DBO #60DBO43873
John Rapasky is the President of the Counsel Mortgage Group, LLC. Copyright © 2017 Counsel Mortgage Group®, LLC