Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.
How Self-Employed Denver Homebuyers Can Get a Mortgage
As a self-employed business person, you already know the ups and downs of being in business. You love the control and the flexibility, but may worry about generating a steady stream of income. It turns out that banks also worry about that income stream when it comes to considering you for a Denver mortgage.
Fortunately, there are several steps you can take to help achieve your dream of owning a Denver home if you are a Self-Employed Denver Homebuyers.
Think ahead when filing your tax returns. In the current environment, banks want to look at your average income based on two years of income tax returns. Although it might help lower your tax liability to deduct all of your business expenses, don't make your net income so low that you don't qualify for a mortgage.
Watch your credit score. It might be tempting to charge lots of new equipment on your credit card, but you could be harming your credit score and your ability to qualify for a mortgage if you aren't paying on time. If you must buy business related items, try to wait until after you've closed on your mortgage.
Build your bank account. It's expensive running a business and paying a ... more
Are you on The Rain? Grow Your Network!