I was thinking of refinancing but our business is way down by about 75%. Will that be a problem to refinance?

Since you are self employed, we will look at your 2008 and 2009 tax returns and average them to establish your monthly income. We look at your adjusted gross income to accomplish this. So, if your YTD earnings are down 75%, it should not have a negative impact on getting you qualified. Please email me with your loan amount, the AGI of the your previous two years tax returns, credit score, and I will send you a detailed quote. Hope this helps. adennie@fmbranch.com. Thanks.

If you are self employed and do not collect paychecks from you company, your income will be calculated based on the average of 2008 and 2009 gross income. if you need more information on how to calculate your income please feel free to call or email me for more information. Houtan.Hormozian@Crestico.com / 949-242-5215

Depending on on your credit score, loan to value and assets we may be able to just use last years tax returns. If you would like to see if I can help you please feel free to contact me. jacobb@stonebridgenational.com.

If you have declining income on your tax returns for the last 2 years along with a year to date profit and loss showing declining income, this may be problem to get qualified for a conventional or FHA mortgage. I recently got a loan turned-down because of this issue for a Fannie Mae Conventional Mortgage...