Dear Lender411.com,I am someone who works for themselves. In 2008, I filed for a tax return which showed that I only made around 6500 k after I deducted my expenses.Now You might say 6500!!!! Thats it !!!No No No!!! I definetly earned more then that its just after deductions thats how much usuable income I am told that can be used for a home loan.One of my mortgage buddies suggested that I should show more income for a few years and adjust my taxable income.I really don't want to wait that long.I want to move in as soon as possible.What do you think?Sincerely,Freddy
Pittsburgh,PA | Sep 11th 2009
by freddy4...
Answer
by lblackston
Freddy where are you looking to purchase a home and how much money do you have to put down.Becasue of your situation with technically not very much income to show you will find it impossible to get conventional financing unless you get a regular paid job or wait 2 years and show more income.The alternative is seek alternative financing and I have a program that lends money using almost anything of value and uses it as collateral. Most commonly used is a stock portfolio loan. Do you own any stocks and if so what is the current value of your portfolio. These type loans can typically close in 7-10 days and are a non-recourse loan.I hope this helps you....Lee BlackstonAmerican Eagle Mortgage Sep 11th 2009 |
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