Working in the restaurant industry or the hospitality industry as a whole often as its challenges when you are applying for any type of financing, let alone a mortgage. Getting approved for a mortgage can be difficult with being able to prove your ‘tip’ income. In some cases this can make up more than 50% of what you take home. Home Trust has developed a mortgage specifically for the hospitality industry. The mortgage will allow you to claim up to double your reported income. This understanding can often mean the difference between a qualified applicant and a decline from your normal major financial institution. Are you in the hospitality industry? Have you been declined by your bank? We’d like to hear your story. Post your comments below.
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