Posted on: 24th May, 2009 11:48 pm
Hi all,
I started my own window cleaning company about 8 months ago and doing really well with it and would love to get into a house here in the Phoenix area while the prices are still cheap. However, from those who I have talked to I will be unable to get a loan because my business is still so new.
They said the banks will require 2 years of tax statements for the self employed. Is there any mortgage programs out there that will give me a loan?
I can show all my deposits into my business account for the last 8 months and show that I paid taxes on it but that is about all the proof I can provide since before that I worked in the same field however I worked for someone else and made very little.
any thoughts?
I started my own window cleaning company about 8 months ago and doing really well with it and would love to get into a house here in the Phoenix area while the prices are still cheap. However, from those who I have talked to I will be unable to get a loan because my business is still so new.
They said the banks will require 2 years of tax statements for the self employed. Is there any mortgage programs out there that will give me a loan?
I can show all my deposits into my business account for the last 8 months and show that I paid taxes on it but that is about all the proof I can provide since before that I worked in the same field however I worked for someone else and made very little.
any thoughts?
ryno,
There MAY be a lender who would make this happen for you but you can be sure that the down payment will need to be a large one. Your credit scores will also need to be high....not as high as your interest rate will be though. My suggestion to you is to bank the monthly payments and wait until you have the two year self employed history behind you.
There MAY be a lender who would make this happen for you but you can be sure that the down payment will need to be a large one. Your credit scores will also need to be high....not as high as your interest rate will be though. My suggestion to you is to bank the monthly payments and wait until you have the two year self employed history behind you.