I am moving back to USA. cs is 784. I will have min 50% down. no debt. restarting my own consulting company. will i have a problem with financing?

Asked by kent, Tampa, FL Sun Dec 8, 2013

I am selling a resort I own in another country and coming back to usa, so do not have job history in usa for 10 years. I will be self employed as I have been in the past. trying to determine if I can buy and get 40-50% financing right away. I have a small 2k per month income on another property that I carry the mortgage to show immediate income. My income will be building month by month. again will i have a problem or need to rent for awhile?

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Dwayne Rober…, Agent, Nashville, TN
Tue Jan 14, 2014
There are different loan programs available. As a general rule of thumb, lenders are going to average your last 2 years tax returns to determine your "average" income. I agree with the previous answer, the best bet is to sit down with a loan officer and discover what options you have available.
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Cathy Territo, Agent, Mount Juliet, TN
Sun Dec 8, 2013

You would be best to talk with a lender about your options. If you are locating to the Mount Juliet or Greater Nashville area, I have some terrific lenders I can recommend to you.

Cathy Territo
Coldwell Banker Barnes
office: 615-758-0488
cell: 615-618-7977
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Sally Grenier, Agent, Boulder, CO
Sun Dec 8, 2013
Most lenders will want to see stable job history & income. And being self employed makes things tougher too. Most self employed people use up so many tax deductions and show very little income, that it hurts you when you try to get a mortgage. But if you've been smart about it, and showed decent income for the past two years, you may not have a problem. You really need to sit down with a lender who can review all of your financial info.
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