Getting a loan when self employed

Asked by Jose Baez, Springfield, MA Tue Jul 3, 2012

How hard is it to get a loan when your self employed? If I get a job how long before I can use that income? My FICO is 715.

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5
Mikel DeFran…, Agent, Canton, MA
Sun Sep 1, 2013
You need a longer history than an " Employee ". A few years of taxes to start. Your credit score is not an issue and as long as you have an adequate work history and documentation - should not be a problem. If you would like a referral to an excellent mortgage person send me a message and I will put you in touch with someone that can assist.
0 votes
Julie Charti…, Agent, Feeding Hills, MA
Mon May 6, 2013
It as absolutely possible to get a loan when self-employed. Many of the tax documents you already need to file taxes are the same ones you need to submit to get loan approval. I work with great lenders who can help you get this done...contact me.
0 votes
Christine Mo…, Agent, Wilbraham, MA
Thu Jul 5, 2012
I have a loan guy that can help you find a lender.
0 votes
Sarah Goulart…, Agent, Plymouth, MA
Thu Jul 5, 2012
I know many self employed people who have qualified for a loan using tax documents etc. Talk with a mortgage broker, they should be able to guide you.
0 votes
Richard Shap…, , Framingham, MA
Tue Jul 3, 2012
If you show enough income it's not an issue. Depending on the program you might need only 2011 taxes or 10 and 11 get averaged.
If you switch jobs and are paid as employee. You can qualify once you have a patsyub.
0 votes
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