2007-08-26 03:22:04 · 5 answers · asked by Rico 1 in Business & Finance ➔ Personal Finance
sure all you do is use your tax records (last three years) to show your steady stream of income!!!
2007-08-29 23:59:38 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Welcome to the world of manual underwriting. This involves actually looking at your tax returns and other financial records to determine your ability to repay the loan. This was once standard practice until Fair Issac invented the FICO score.
To directly address you question, YES you can still get a mortgage as a self-employed person. You may even get a better rate than if you worked for someone else. Don't listen to the 'no doc' answer. That is a sub-prime loan at high rates. If you can only get a no doc loan, you can't afford the mortgage.
2007-08-26 11:16:42 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
You will most likely have to show your taxes from last year and the year before and two months of bank statements.
2007-08-26 10:37:52 · answer #3 · answered by KathyS 7 · 0⤊ 0⤋
you can be easily financed they use your bank statements to show what your bringin in
2007-08-26 10:52:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Last year you could.. so unless its changed.. i believe they called my a no doc.
2007-08-26 10:28:04 · answer #5 · answered by sonicsoll 2 · 0⤊ 2⤋