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Mortgage with S Corp

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Giaharris3944
New Visitor

Mortgage with S Corp

I'm currently self employed S Corp and pay myself monthly.I own 100% of the business.  What I pay myself is not near what my business brings in monthly. I'm wondering if lenders qualify you off of what you pay yourself or off of what your business brings in? 

2 REPLIES 2
sccredit
Valued Contributor

Re: Mortgage with S Corp

They qualify you based on what your personal tax return says. It is, basically, a combination of your W-2 and K-1 income averaged for 2 years. 

Message 2 of 3
reenia85
New Visitor

Re: Mortgage with S Corp

If you own 100% then I beleive they will qualify you on your salary plus the net income of the business. I file my gastroenterology practice as an S-Corp and had no issues with my approval with U.S. Bank and they were fast. 

Message 3 of 3
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