Franklin Farinas

Greetings! The way lenders are these days it may be very, very difficult if not impossible. In the past one needed to have 2 years of self employment tax returns to even apply for a loan. A partner who has a salary job will help make loan ratios more palatable to a lender. Lenders are wanting to know how is the loan going to be repaid. Also, on the self employment tax return the lender is looking at the net income = gross less expenses. Most of the time self employed people want to have the bottom line as low as possible to pay as little tax as possible. Best advice is to speak to a loan broker. But be carefull as sometimes they just want to make a loan no matter what the interest rates. Good luck,. - Wed Jun 3 2009, 10:13