self employed seeking a conventional loan

SE borrowers need to provide 2 years filed federal tax returns, and it's the income that shows on the returns that the lender will use to determine your debt to income ratios.. the lender will take the 2 year average if your income has increased year over year.. if you made less in the past year from the previous year, then the lender will use the lower years income for qualifying.. There are some deductions that you take that can be "Added Back" to increase your income, so for this reason, it's best to contact a local mortgage broker and let them look at the returns, and let them tell you what you'll 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. 480-287-5714 WilliamAcres.com

Typically, 2 years of tax returns with all schedules, bank statements and a current PNL. We will take an average of the deposits over 1-2 years depending on what the AUS (automated underwriting system) requires. If you would like to discuss, we deal with alot of self employed borrowers. Feel free to contact us at 800 315 8803. We look forward to hearing from you. J Lynne - Lending Since 1989 - 800/315-8803 7 days a week - www.bartprequalifies.com

Derek, how long have you been self employed? You'll need at least the 2012 federal tax return (and probably 2011 as well) plus we'd need to document/confirm your year to date income. As long as it is consistent it should not be an issue. I'm in Charleston and can help: apply online at http://pdumouchel.primelending.com or pdumouchel@primelending.com or 843-619-6025 - shoot me an email or give me a call!

First get a YTD Profit and Loss statement from your accountant or tax prepearer. If using income from business to income qualify, have 2 years tax returns from business. Your trax returns will verify your work history and a business license. Hope this helps. For more information, call James Terry 909-996-9714 Direct. No question is too big or too small, so please call me whenever convenient.

Basically p&l for 2013, along with 1040s with schedule c (profit and loss). Take net income at bottom of schedule c and back any depletion or depreciation and average last 2 years to get qualifying income. We are a direct lender if you have any more questions, please feel free to email or call me.

Hi Derek. Typically last two years tax returns plus a P & L for the past 90 days. I'm a mortgage lender in North Myrtle Beach. Give me a call and we can discuss further. Would like to help you. Bob843-685-1685

<------ Is a "LOCAL" Mortgage Broker... 843-215-6200The other answers are correct. Typically. There are a few programs and lenders out there geared specifically for self-employed business owners. With the right credit criteria and compensating factors, we can go off last years returns. Depending on if this is a primary residence. If this was investment, Coastal Funding Corporation offers a Stated income loan on investment property. Hope this helps...