Tag Archive for: self-employed borrowers

Borrowers Can’t W2/Pay Themselves To Qualify; Complexity of Loan Process

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If the owner of a company pays himself $300,000 per year while the company itself is losing $300,000 per year, that owner effectively has no income. I am oversimplifying this […]Read More

Loans Just Got Tougher For the Self-Employed; Low Supply Keeping Prices Up

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LOW SUPPLY/PENT UP DEMAND KEEPING PRICES UP Keith Robinson, Chief Strategy Officer of NextHome, pointed out in a post last week that there are about 30% fewer listings on the […]Read More

When You Should Drop Your Husband

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Yesterday, I received the following text from a savvy agent we have worked with for years: “I received an offer on a property and it’s ‘wife only,’ stating ‘husband is […]Read More

Need Income and Bonus History

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We often have self-employed borrowers come to us who are rolling in profits and cash, with perfect credit and everything else a good borrower needs. BUT, they do not qualify […]Read More

Need Income History No Matter How Well Doing Currently

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We often have self-employed borrowers come to us who are rolling in profits and cash, with perfect credit and everything else a good borrower needs. BUT, they do not qualify […]Read More

Tweaking Tax Returns for More Income to Qualify; It’s That Time

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Self-employed borrowers can tweak their tax returns to qualify for mortgage financing. A contractor called us this morning to qualify for mortgage financing. His gross revenue last year was $400,000. […]Read More