mortgage help for self employed please

All lenders calculate self employed income the same way. Look at your last 2 years income tax returns, schedule c = "business for self". Take the bottom line figure (line 31) and add back any depreciation (line13). Then, average those figures for 2013 and 2012. That is the income a lender will use for qualifying you for a mortgage. So if you, like many self employed borrowers, write off deductions, that would lower your income used for qualifying. That may be the issue you are running into. I would be happy to provide you a Free, no obligation pre-qualification over the phone with a few minutes of your time and your tax returns handy. Please call me at 913-599-0001 and we can determine the maximum mortgage amount you would qualify for in minutes.

You are a great canidate for a couple of our programs. I would need a few more details. You can directly apply at my website of http://saradeere.openmortgage.com or send a email with you contact information to saradeere@openmtg.com.

you are not, call Sara, as she seems to know the same ...We don't lender in MO

It shouldn't be a problem. Typically, problems arise when the lender looks at the tax returns.. It doesn't matter how much your gross receipts are.. the lenders looks at your adjusted gross income for qualifying purposes.. if you write everything off, and are left with $12K for the year, then your income is $1000 per month for mortgage qualifying purposes.. But being self employed by it self is not a problem at all, you just have to meet the income qualifying guidelines and be within industry standard debt to income ratios.. to get started, contact a local mortgage broker and apply with them.. once they see your complete loan profile and analyze your tax returns, they will tell you exactly what you qualify for.. 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

Effectively your qualifying income is what you pay taxes on, but adding back any depreciation. There is no issue buyiing a home when you are self employed, only showing enough income to qualify. As long as you do you ARE a great candidate! I can help: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013

You should not need to worry to much if the information so far presented is accurate. Whoever you may have been talking to may not be willing to put in the time necessary on assisting you with the right program. Here at Midwest Capital Mortgage, we have the tools to assist you. Please feel free to contact me at 314-744-7806, or visit my website at www.CallTheMoneyMan.com

If you are currently having issues it could be that your net adjusted income, after you have written off all of your business expenses is much lower than your reported gross income. If your income in 13 was better than it was in 12 I would ask the loan officer to try and get you approved through LP and if you get a Streamline Accept you will only have to provide one year's worth of tax returns and qualify off that one year instead of a two year average. Your score is good enough and as long as you have at least a 5% down payment you have a good chance. Best wishes, Sean