Can income from my business (11 months old) count toward mortgage
I am self employed recently as well work a full time job with salary. However, income from my business is very small (around 300/mo) Can I put this income toward the mortgage anyway? Is there a min amount I must have earned?
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
For income to be considered, it has to be consistent, and current guidelines require lenders to see SE businesses with at least 2 year filed tax return history for the income to be used, but there is no minimum earned income requirements.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Dale Dikes (addikes@aaabanking.com)
#55 ranked lender in Michigan - 5 contributions
You will have to qualify for the mortgage using the salary from your full-time job only. Once you have been in your self-employed job for two years, you can use that income as well.
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