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debbiebrowning · Joined: 04 Jan 2009 Posts: 1 1.67 Dollars($)

being self-employed our income tax return shows our final profit as under 20,000 but you have to remember all of our bills are being paid out of the gross amount we do not give ourself paychecks all bills are paid out of the company it is just my husband and myself so this seems to be a problem with mortgage companies

eric1

One of them is called "Stated Income". This option is for borrowers who make enough money to qualify for the loan but have trouble proving it due to reasons like you mentioned. You can read all about those various loan options at "http://www.dreamhomefinancing.com" and click on Low-No Doc Options.

[Link deactivated as per forum rules. Thanks.]

smithsussane · Posted: Sun Jan 04, 2009 8:06 pm Post subject:

Hi debbiebrowning,

Welcome to forums!

You can check out the options of stated income loans as suggested by Eric. Some lenders may offer you no-doc loans. You can speak to your lender for this kind of loans. You can also speak to the lenders of this community and seek a no obligation free mortgage consultation. They will help you to know what kind of rates and terms you can get. They will also tell you about the rates and terms prevailing in the market.

Feel free to ask if you have further queries.

Sussane

gmakerley · Posted: Mon Jan 05, 2009 8:54 am Post subject:

in addition to the stated income option, you'd also want to see if a lender would accept your documentation that reflects the bills being paid by your corporation and therefore eliminates them from consideration in qualifying you. what you'd need is at least 12 months' statements or canceled checks to document those payments.

gmakerley · Posted: Mon Jan 05, 2009 8:56 am Post subject:

eric: please read the guidelines for posting on this forum and refrain from the overt advertising that you've done. if you wish to join the community as a lender, you'll have the opportunity to put your contact information in your signature panel, such as above.

asking folk to call you directly is contrary to the forum's design. we appreciate your input but hope you'll be amenable to this requirement.

Guest

Where is the property located maybe I can help. Please goto and fill out an online application. I'll tell you right away if I can help you or not.

Best regards,

Joe

this post was edited per Forum guidelines

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we are self-employed