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Can a New Private Practice Doctor get a mortgage?

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Guest	Posted: Mon Feb 08, 2010 2:02 pm    Post subject: Can a New Private Practice Doctor get a mortgage? Like 0 Dislike 0 My friend's daughter is a licensed psychologist but has only been licensed in Florida for about 6 months and is just getting started. She desperately would like to get a home (she has 1 dog and 2 cats). She owned a home in NY and has the downpayment.
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1256 Location: River Edge, New Jersey 264.15 Dollars($)	Posted: Mon Feb 08, 2010 5:05 pm    Post subject: Starting Like 0 Dislike 0 If she is self employed, she will need two years tax returns and the income for those two years will be averaged. Since she just strted, she does not have two years self employment and sinc ethis is a start up year, no idea what the frist year will show as net income---a number that will be averaged with year number two to arrive at income that is useable for mortgage qualification. If she can find a coborrower, may be able to buy now with a FHA loan. They do not require the owner occupant to qualify first on their own. _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278
Guest	Posted: Mon Feb 08, 2010 5:15 pm    Post subject: Like 0 Dislike 0 thank you

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