Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 245
Registered: ‎07-06-2007
0

Another self employed question :)

Ok I'm self employed and have no problem proving my income...we will be going for a mortgage around first week in Oct the way things look now.

 

My income was ...

 

23419 in 2010 from my Schedule C

 

25903 in 2011 from my Schedule C

 

So now onto this year, I don't do quarterly payments because it's just easier for me to pay my taxes one time a year and not stress it all year long. What will I fill out to prove my income from Jan 1, 2012 - current. Does the mortgage officer have something for me to fill out? All of my income can be proven in my paypal account and my bank account. I have 3 clients I work for, one pays monthly via international wire transfer into my bank account around the 15th of the month. One pays via paypal monthly at the beginning of the month, and the last one pays via paypal every Monday so weekly.  I can easily print this all off.

 

Thanks!!

9/1/2012 ...DRUMROLL .... EQ .. 776!!

I'm FINALLY a homeowner .. 10/24/12!!!!

My Cards ~~~GARDENING~~~ BNSF CU ($1000) BOA ($2500) Amazon / GE ($900) AMEX BCE ($2500) Chase Freedom ($3000) US Bank Cash + (7500)
Highlighted
Valued Member
Posts: 45
Registered: ‎04-10-2007
0

Re: Another self employed question :)

I'm self employed and they didnt even need my current year income they took an average of prior two.  They may ask for a ytd p&l, it just depends on the lender.

Regular Contributor
Posts: 245
Registered: ‎07-06-2007
0

Re: Another self employed question :)


wemmington wrote:

I'm self employed and they didnt even need my current year income they took an average of prior two.  They may ask for a ytd p&l, it just depends on the lender.


Thanks! I called a lady I was referred to today by our credit union for a loan. She was similar to what you said. They were just focused on 2010, 2011 and said just wait on what the underwriter says for 2012. I hope it's that easy lol knowing my luck maybe not.

 

9/1/2012 ...DRUMROLL .... EQ .. 776!!

I'm FINALLY a homeowner .. 10/24/12!!!!

My Cards ~~~GARDENING~~~ BNSF CU ($1000) BOA ($2500) Amazon / GE ($900) AMEX BCE ($2500) Chase Freedom ($3000) US Bank Cash + (7500)

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.