09-06-2012 03:43 PM
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.
09-07-2012 03:40 PM
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.