self employed: One Year Tax Returns Needed for Self Employed Home Buyers - 09/21/14 08:22 PM
Self-employed borrowers often face hurdles that make it difficult for them to get approved for a mortgage to purchase their new home.  The reason is that when you are self-employed you can "write off" many expenses that W2 employees cannot, and while this is a good thing when it comes to calculating how much is owed for taxes,  it also reduces the income the mortgage lender will use when underwriting your loan application.
This issue can be even more of a problem in the first couple of years of self-employment due to all of the start up expenses being written off.  Often, … (3 comments)

 
Bill McDonald, VA, USDA, FHA Government Loans - (865) 686-8711 (Van Dyk Mortgage ) Rainmaker large

Bill McDonald

VA, USDA, FHA Government Loans - (865) 686-8711

Knoxville, TN

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Van Dyk Mortgage

Address: 57 Maple Grove Dr , Ste 202, Crossville, TN, 38555

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