Posted on: 27th Nov, 2010 09:02 am
I am a small Business Corp. %100 owner. I would like to buy a single family home. I already found some homes , their price range about $80,000 to $119,000. In 2008 I was unemloyed. In 2009 April I started my business. For 2009 I did only $3,800 profit.:( I fielld my taxes as S. CORP. So, I filed Schedule C. I did`t put my self on w-2 because it was first year.
For 2010 I am doing good. I put my self in W-2 and I am getting opproximately 3200 a month. So, far for the past 3 Quarters I field $21,000 income. And for the next (4th)quarter it will be $10,500 more. So, in 2010 my annual income will be $31,500. On the other side I will have shedule C income which is %100 of the CORP income. It probably will be 8,000 to 12,000.
I just checked my FICO score is 702&712. And I don`t have any loan or extra payment. Only some credit cards and their oprox monthly payment is $150.00. In my saving so far I have $6,500. Right now I live in cando and I pay $800 a month for rent.
For 2010 I am doing good. I put my self in W-2 and I am getting opproximately 3200 a month. So, far for the past 3 Quarters I field $21,000 income. And for the next (4th)quarter it will be $10,500 more. So, in 2010 my annual income will be $31,500. On the other side I will have shedule C income which is %100 of the CORP income. It probably will be 8,000 to 12,000.
I just checked my FICO score is 702&712. And I don`t have any loan or extra payment. Only some credit cards and their oprox monthly payment is $150.00. In my saving so far I have $6,500. Right now I live in cando and I pay $800 a month for rent.
Hi gokhanyegen,
The mortgage lender will ask you to provide with 2 years of employment history. If you're unable to show that, then the lender may not be ready to give you a mortgage.
The mortgage lender will ask you to provide with 2 years of employment history. If you're unable to show that, then the lender may not be ready to give you a mortgage.