Mortgages for Self Employed Borrowers
If you’re self-employed and have applied for a mortgage through your bank, you’ve likely encountered some challenges. Banks employ “A” lending guidelines which means that they have to have two years tax returns and NOA’s from you and they can only use the net income after all expenses.
Down Payment Sources
So you’ve bought a house and now need to come up with the down payment. The mortgage company cares where the down payment comes from and, you’ll have to provide acceptable proof.