We also will use your adjusted business income, netting out the deductions you'll most likely be taking....so the more you write off, the less income we'll be able to use..
So if you're just starting your business this August, we wouldn't be able to use this income until you can give us a copy of your 2012 and 2013 returns, which wouldn't be until early 2014 at the earliest..
Feel free to contact me to further review your situation!
I know I'm not giving you a thumbs up now, but maybe there's some other options I could find for you that could allow you to purchase sooner than later!
Best regards, Jeff Marr
The best way to get an accurate answer to your question is to contact a mortgage broker. If you need a name, feel free to give me a call. I'd love to help.