Any of you had trouble getting a mortgage working in this biz? - GoFuckYourself.com

clickhappy · 07-07-2005, 08:40 PM

Im doing an application for one soon. Just giving him my tax records since Im self employed.
Is it any harder or stricter getting approved when youre self employed as a webmaster, or did you have no troubles?

Since im giving him my tax records I dont want to get asked about all my dedcutions and what they mean, I hope they just look at my gross and net and leave it at that

Furious_Male · 07-07-2005, 08:42 PM

I always go stated and never had an issue.

Sosa · 07-07-2005, 08:42 PM

For future stuff I would go get a corporation. My bank told me they would want to see tax records for the past 2 years as well but said I would have no problem getting a big loan if I wanted.

clickhappy · 07-07-2005, 08:44 PM

I dont understand what stated means.

Say I made $100k and after expenses I took home $75k.
Would stated mean I state I made $100k?

makeitgo100 · 07-07-2005, 08:46 PM

I do mortgages. I may be able to get you one depending on your state of residence. ICQ me and we can talk: 137043269. If nothing else I can give you some advice if you need it.

07-07-2005, 08:46 PM

As long as you can show income tax returns showing self-employed income of 3 years then you will be OK.

MandyBlake · 07-07-2005, 08:47 PM

we had to do the exact same thing but we got ours.
good luck!

Furious_Male · 07-07-2005, 08:49 PM

Quote:

Originally Posted by clickhappy

I dont understand what stated means.

Say I made $100k and after expenses I took home $75k.
Would stated mean I state I made $100k?

No Documents.. I tend to like my privacy. Using a broker I still get decent rates but not as good as a full doc mtg.

More info.

http://moneycentral.msn.com/content/...acy/P33720.asp

tony286 · 07-07-2005, 08:50 PM

Quote:

Originally Posted by Sosa

For future stuff I would go get a corporation. My bank told me they would want to see tax records for the past 2 years as well but said I would have no problem getting a big loan if I wanted.

Yeah thats the way to go getting our mortgage was no problem

stevo · 07-07-2005, 08:51 PM

tax returns for the past two years or bank statements & check stubs for the past two years (higher interest rate this method)...

clickhappy · 07-07-2005, 08:52 PM

I dont mind showing my last 2 years tax returns. I just dont want to get audited by them and have them break down my returns and going thorough my costs and expenses.

clickhappy · 07-07-2005, 08:52 PM

Quote:

Originally Posted by makeitgo100

I do mortgages. I may be able to get you one depending on your state of residence. ICQ me and we can talk: 137043269. If nothing else I can give you some advice if you need it.

thanks. the guys im going too is a friend of my family so I have to go to him.

makeitgo100 · 07-07-2005, 08:55 PM

No problem. You shouldn't have a problem getting a mortgage. Good luck!

newbreed · 07-07-2005, 08:59 PM

OK, if you want a real World assesment of whether or not it means anything...

Arika just bought our house, yes, it is in her name (legal reasons for that...). She is 19, and her site has been open for less than a year. She told the realtor what she did, he in kind told the mortgage broker, who in turn told the title agency and lending company. In the end, it was a NON-ISSUE. She was able to finance 200k only showing a tax return and proof of income (CCBill stats) for a 30yr fixed loan. We were given a bottom line "due at closing" number and we made that with no problem, and closed in less than an hour.

My advice is to find someone you trust, show them what you feel is important as far as your income, and let them work out the rest.

edit - let me clarify, at the time the house was bought (2+ months ago) her site was less than a year old.

GTS Mark · 07-07-2005, 10:30 PM

If anyone is looking to get pre-approved or re-financed on a mortgage (in Canada) please let me know and I will hook you up with my broker who specializes in Self-Employed individuals. He's actually setup over 5 of my porn friends with mortgages in the past year

Give me a shout and I will get him to contact you

DH

cool1g · 07-07-2005, 10:31 PM

go stated as people mentioned above. best rates i've seen are 5.2% at NationsPoint for 80/20 (8.9% for the 2nd). all they need is your past 12 months of bank statements and a Fico above 620 and you get 100% financing. Amount approved is based on average monthly bank deposits...

07-07-2005, 08:40 PM	#1
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	Any of you had trouble getting a mortgage working in this biz? Im doing an application for one soon. Just giving him my tax records since Im self employed. Is it any harder or stricter getting approved when youre self employed as a webmaster, or did you have no troubles? Since im giving him my tax records I dont want to get asked about all my dedcutions and what they mean, I hope they just look at my gross and net and leave it at that

07-07-2005, 08:42 PM	#2
Furious_Male Doing the grind since 99 Industry Role: Join Date: Oct 2003 Location: Buffalo NY Posts: 16,881	I always go stated and never had an issue. __________________ Living in Virtual Reality Contact: Email (preferred): furiousmale .at. gmail - Skype: live:shanedws

07-07-2005, 08:46 PM	#5
makeitgo100 Registered User Join Date: Nov 2001 Location: Costa Mesa, California, United States Posts: 59	I do mortgages. I may be able to get you one depending on your state of residence. ICQ me and we can talk: 137043269. If nothing else I can give you some advice if you need it. __________________ makeitgo100 www.greenthumbstgp.com www.eurothumb.com

07-07-2005, 08:47 PM	#7
MandyBlake The one and only! Industry Role: Join Date: Nov 2002 Location: Atlanta, GA Posts: 17,761	we had to do the exact same thing but we got ours. good luck! __________________ Mandy's Playhouse Her First Fat Girl If you're interested in promoting my sites, ICQ me! 178411921

07-07-2005, 08:55 PM	#13
makeitgo100 Registered User Join Date: Nov 2001 Location: Costa Mesa, California, United States Posts: 59	No problem. You shouldn't have a problem getting a mortgage. Good luck! __________________ makeitgo100 www.greenthumbstgp.com www.eurothumb.com

07-07-2005, 08:42 PM	#3
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	For future stuff I would go get a corporation. My bank told me they would want to see tax records for the past 2 years as well but said I would have no problem getting a big loan if I wanted.

07-07-2005, 08:44 PM	#4
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	I dont understand what stated means. Say I made $100k and after expenses I took home $75k. Would stated mean I state I made $100k?

07-07-2005, 08:46 PM	#6
evildick Guest Posts: n/a	As long as you can show income tax returns showing self-employed income of 3 years then you will be OK.

07-07-2005, 08:51 PM	#10
stevo Confirmed User Join Date: Aug 2002 Location: Orlando, Florida Posts: 2,051	tax returns for the past two years or bank statements & check stubs for the past two years (higher interest rate this method)...

07-07-2005, 08:52 PM	#11
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	I dont mind showing my last 2 years tax returns. I just dont want to get audited by them and have them break down my returns and going thorough my costs and expenses.

07-07-2005, 08:59 PM	#14
newbreed Confirmed User Join Date: Nov 2003 Location: ThatOneProgram.com Posts: 9,898	OK, if you want a real World assesment of whether or not it means anything... Arika just bought our house, yes, it is in her name (legal reasons for that...). She is 19, and her site has been open for less than a year. She told the realtor what she did, he in kind told the mortgage broker, who in turn told the title agency and lending company. In the end, it was a NON-ISSUE. She was able to finance 200k only showing a tax return and proof of income (CCBill stats) for a 30yr fixed loan. We were given a bottom line "due at closing" number and we made that with no problem, and closed in less than an hour. My advice is to find someone you trust, show them what you feel is important as far as your income, and let them work out the rest. edit - let me clarify, at the time the house was bought (2+ months ago) her site was less than a year old. __________________ Want to promote SUCCUBUS? Click HERE!!!! \| Want to buy SUCCUBUS? Click HERE!!!! Yeah, yeah, you know, That One Program! \| Want to trade links with StompBunny.com? Loryn ‎(3:16 PM): I love it, just as long as we keep the bedroom door closed from all ears then we can have throw down hard core sex that makes us money haha fuck it we can have sex on money never did that before Last edited by newbreed; 07-07-2005 at 09:00 PM..

07-07-2005, 10:30 PM	#15
GTS Mark Vrume Mark Industry Role: Join Date: Jan 2001 Location: Toronto, Canada Posts: 20,912	If anyone is looking to get pre-approved or re-financed on a mortgage (in Canada) please let me know and I will hook you up with my broker who specializes in Self-Employed individuals. He's actually setup over 5 of my porn friends with mortgages in the past year Give me a shout and I will get him to contact you DH

07-07-2005, 10:31 PM	#16
cool1g Confirmed User Join Date: Sep 2002 Location: Hollyweird adjacent Posts: 977	go stated as people mentioned above. best rates i've seen are 5.2% at NationsPoint for 80/20 (8.9% for the 2nd). all they need is your past 12 months of bank statements and a Fico above 620 and you get 100% financing. Amount approved is based on average monthly bank deposits... __________________ InterG Media affiliate network (dating, pay per call) EDM Life Affiliates Cash In