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need a mortgage for an investment property

i've been self employed for the last year and have good credit at 745. the investment property i'm looking at is 250K by barrycsouth99383 from Clark, Pennsylvania. Jun 16th 2015 Reply


Hello,As long as you have filed your 2014 tax returns and it shows enough income to cover all expenses there are programs out there. You need to have a licensed loan officer go over an application with you. If you want I can run through it with you tomorrow. You can call my office at 856-324-6749 or email at bdevlin@7thlvl.com

Jun 16th 2015
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Lisa Brandon (lisa@justintimeloans.biz)
#1138 ranked lender in California - 10 contributions

Hello, please send your loan scenario to: lisa@justintimeloans.biz or call (415) 439-0170 I can give you the loan.

Jun 16th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,970 contributions

Technically, self employed people really need to be self employed for two years, so lenders can average your income after write-off's and expenses. A very small number of people MIGHT qualify with showing just a one year tax return, but again, you are required to be self employed for two years.

Jun 17th 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

For SE borrowers, your going to need 2 years of SE employment history to qualify.. There is an exception in the guidelines which state if you were in the same line of work for 2 or more years and were successful, and your new business is in the same line of work and is showing a profit, then this is allowed.. Example: You worked for a roofing contractor as a foreman and did that job for 15 years, and you decided to start your own roofing company, and have filed 1 years federal tax return showing a profit. then under this scenario, lenders are allowed to accept the 1 years tax returns, but this is the only exception. The tough part is finding a lender willing to allow for this exception, as most all will not, especially since your looking at an investment property, not a primary residence. But if you want to know for sure, then you should contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and 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

Jun 17th 2015
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