Is it possible for a veteran who started a business in June 2012 to get a mortgage?

Not likely... We need to be able to calculate an income. Self-employed people need to be able to provide two-years worth of tax returns with the self-employed income on it. We look at what you reported for income, subtract out costs and write-offs... and then take a two-year average of that to use as income.

Guidelines require 2 full years of filed tax returns supporting the business income, however there is an exception... if the borrower has at least one year filed tax returns, and he was successfully employed in the same business for several years previous to his self employment, then the lender could allow it.. Example:.. Borrower worked as roofer for 20 years, and decided to start his own roofing company. He has one year filed tax returns as a Self Employed Individual, and he shows enough income after deductions to support all his monthly obligations as well as a new housing payment. Then this scenario could be allowed... The problem is that typically, folks just starting a business will show a loss in the first few years.. The lender must use the income off the tax returns, and if your writing everything off, you might not show enough income to support your debt.. 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. 480-287-5714 WilliamAcres.com

Typically not. Normally you need 2 years tax returns to verify the net income from the business.

Unfortunately not. As others have stated you need to have two years of taxes filed with self-employment income so that income from the business can be analyzed as stable or increasing, and as Joe stated a two year average will be used for qualifying. So you will need wait until you file your 2013 taxes before applying for a mortgage loan.

Yep, as others have stated...... 2 years personal returns with your new business income will be required.

Will need 2 years history most likely but call us so we can go over entire scenario. We are in Montvale and would be glad to help. Call us or email us at 201-962-3555 or Team@BestMortgageOption.com for ano cost no obligation analysis of your situation. Ask for Michelle or Benny We will find the Best Mortgage Option to suit your needs!You can check us out at www.BestMortgageOption.com We are also proud Homes for heroes affiliates

No, unfortunitly you will not be able too

You need 2 full years of tax returns. The income used to qualify will be line 37 on form 1040, adjusted gross income, NOT your gross business receipts.