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I'm selfemployed please tell me what I can do for a mortgage

I have enough for 5% down but I've already been told I cannot be financed through fannie or freddie. my income is "too inconsistent" since i yoyo depending on the season. but i am always in good standing and can always pay rent. my credit is 731!! what can i do by freesia79462629 from Pahrump, Nevada. Nov 5th 2014 Reply


Kelly Fontes (kellyfontes)
#8 ranked lender in Nevada - 11 contributions

Define inconsistent? What do you do for income? Typically we average out the income over a specified period of time. It may lowers your pre approval but you can defiantly buy a home.Kelly FontesGeneva Financial702-400-9241

Nov 5th 2014
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Jeff Shumway (jeff@mortgagesforamerica.org)
#40 ranked lender in Nevada - 49 contributions

We have a lot of different options, depending on your specific situation. Feel free to contact me via my profile information and we can find what fits your situation best.

Nov 5th 2014
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Nathan Kessler (nathan.kessler@guaranteedrate.com)
#44 ranked lender in Nevada - 81 contributions

You may have more options than you think. A application will be the perfect remedy for your concerns. Give me a call at 702-683-3126, and I will be more than happy to explore all of your options with you. Nathan Kessler, Sr. Mortgage Loan Originator City first Mortgage Services NMLS 377217

Nov 5th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

It depends on what shows on your tax returns as income after business expenses. Consistent income is important for loan approval.

Nov 5th 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Having seasonal income is not a problem for most lenders, but if you try talking to the local bank on the corner, your chances of getting approved is very slim.. For this reason, i always suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan scenario as well as your income breakdown, they can advise you properly.. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders (I have 21), seeking out the best loan terms for your particular scenario. More lenders, means more loan options and the more likely you are to get approved. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. 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

Nov 6th 2014
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