Self-Employed Less Than 2 Years and Buying a House (Update in video description below)

Self-Employed Less Than 2 Years and Buying a House (Update in video description below). Get a Mortgage Without Traditional Tax Returns

Self-Employed Less Than 2 Years and Buying a House (Update in video description below) video duration 4 Minute(s) 36 Second(s), published by Portfolio Loan Mortgage Guide on 30 09 2016 - 11:55:09.

Update: 3/6/17 No conforming product currently allows for 1 year tax returns as self-employed if self-employed less than 2 years
On a vary rare basis, some http://elitelendingteam.net/or by phone at (808) 891-2005
One of the concerns you may have if you are self-employed or have a lot of property is that you might .

ARE YOU SELF EMPLOYED? TAX RETURNS DON'T SHOW ENOUGH INCOME? NOT TO WORRYWE USE BANK STATEMENTS TO GET YOU QUALIFIED !. What is needed if you are self-employed, own businesses, are paid commission, or have other sources of income besides a regular wage found on a W-2 form

-Update: 3/6/17

No conforming product currently allows for 1 year tax returns as self-employed if self-employed less than 2 years. On a vary rare basis, some lenders will allow for less than 2 years self-employment.

It is unclear currently on if 2 year tax returns averaged will be acceptable.

I will keep this updated as new information comes in. The updated guideline is below. -Adam Lesner

For self-employed Borrowers, the number of years of required tax returns will be based on the number of years the business has been in existence:

For businesses operating for five or more (5+) years, one (1) year of business and personal returns will be required.
For businesses operating for less than five (5) years, two (2) years of business and personal returns will be required.

Business owners, here is how you get a mortgage if you have been self-employed for less than 2 years.

(a portfolio loan may be your solution)
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#1 Need to have at least 1 full year tax returns as self-employed
#2 Need to have previous and recent experience in the same line of work for 2 years.
#3 Need to get an automated approval through the mortgage lender's desktop underwriting system with only asking for 1 year of tax returns. (this also comes in handy when having substantial income increase on tax returns)
#4 Need good credit and solid down payment
#5 Watch the video
#6 Subscribe
#7 Contact me with questions http://BalanceProcess.com/contact

Here is more of my content for business owners seeking a mortgage:

http://www.balanceprocess.com/self-employed-less-than-two-years/

Podcast: http://www.balanceprocess.com/podcast