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I have a borrower that's trying to buy investment property. He's self-employed. How do I calculate his income from 3 years of personal tax returns, profit and loss statements, bank statements and business tax returns?

jameshogg · Posted: Mon Jun 29, 2009 10:47 pm Post subject:

Hi miadams,

In my opinion, as the borrower has provided you with the income tax returns, you can easily calculate the applicant's net income (amount after expenses but before taxes) for the past 3 years from it. Then the year-to-date income for the current year is added to the total. Once this is done, the sum is divided by the total number of months involved to arrive at the average monthly income of the borrower.

Thanks

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)

ask him to share income tax return.

gmakerley · Posted: Tue Jun 30, 2009 9:11 am Post subject:

miadams are you a loan officer? you don't know how to read tax returns?

Guest

Hi,
I think ,
If you want to invest your property,you do that. But first of all you should think that if you inverts money .You think that can we get profit.

gmakerley · Posted: Sat Jul 11, 2009 4:28 am Post subject:

please strive to post commentaries that make sense, SWarghad.

Guest

I think we should invest money do not mind. But you have to invest our property on good benefit. we should not go in loss.

gmakerley · Posted: Tue Jul 14, 2009 7:46 am Post subject:

boy that sure clarifies things.

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