Comments on: Starting the Home Buying Process While Self-Employed (in Today’s Economy)

By: Adam Banda

Adam Banda — Tue, 21 Mar 2017 12:38:00 +0000

Nice article, Me and my wife also were in trouble because we did not have own house. Then we plan to buy a home and start checking the home loans,we calculated the mortgage and now we are the owner of a house

By: Alicia Sanders

Alicia Sanders — Sat, 19 Jul 2014 16:54:00 +0000

It can be difficult for families, especially when it comes to managing household finances. Any big deal demands having a big money supply. Loan’s unique eligibility and features make it the best option for most families looking to purchase a home. If you need some extra cash as soon as possible there is a promissory option you can easily use. You can get a payday loan which is an effective tool in solving such kinds of problems. This service is fast and reliable and it might become a bridge to your financial independence.

By: Stephenson Ohimor

Stephenson Ohimor — Tue, 03 Dec 2013 19:52:00 +0000

Was there a positive outcome to this post? I’ve come across this hurdle and while some lenders are willing to work with you the pool of lenders is very small.

By: Brad

Brad — Wed, 14 Nov 2012 21:23:27 +0000

Touche. Sound arguments. Keep up the great effort.

By: Amir Rimer

Amir Rimer — Mon, 12 Nov 2012 04:56:21 +0000

Hi Pat, it’s great to read about your personal life. I think that it connects you to your audience better. Thanks for the post!

By: STACEY

STACEY — Mon, 07 Feb 2011 02:59:45 +0000

In reply to Scott. I am the owner of a c corp the company i s new (under 2 years) and I want to purchase a home but was told that there was no way unless I was employed and only needed one check as opposed to the 6/12 that I heard you needed. Suggestions?

By: JeffK

JeffK — Sun, 23 Jan 2011 14:57:01 +0000

How is the housing crisis, and free fall in home prices, gonna be solved if folks can’t obtain a job? There are an incredible number of people which already lost their homes and millions more will until America starts making something more then excuses. It is time to adjust the trade agreements with the Chinese. For heavens sake, our primary trade partner is known to manipulate its currency!

By: Scott

Scott — Fri, 14 Jan 2011 03:02:51 +0000

Scott,

I’m self employed as well. The problem is my line 37 doesn’t look very good. Close to nil. That is line that shows my profit after business expenses, therefore, I never applied to get a house. Now, I need a house imminently. Can I do the tactic you suggest in putting my on my own payroll. I’m already an LLC. Then can I purchase a house and use my parents S.S. money as an additional rental income to qualify??? I have a 770 credit score and a total of 32,000 in credit line with a 10k balance.

Any more idea’s ???

By: Kevin Koskella

Kevin Koskella — Tue, 12 Oct 2010 21:12:06 +0000

This is a good post and highlights the fact that there is a bias against self-employed people in this country. I just found out that I am not eligible for a car loan because I take enough write-offs to show only $15k in income per year! It looks like I live at the poverty line because if I don’t take the write-offs, I will be paying much more in taxes. Banks will bend over backwards from someone pulling a paycheck that could get laid off at any time, but for those of us who step forward and take our financial wellness into our own hands, forget it- we’re a bunch of losers according to them!

Anyway, hope it worked out for you Pat!

By: Heather Mortgage Modification

Heather Mortgage Modification — Thu, 03 Sep 2009 15:45:46 +0000

The whole lending system is corrupt. You just want to get a house and stay within your means and you definatley make enough but these other guys who bought too much house for their income now qualify to get help from the government for mortgage modifications. That just disgusts me. I really hope that you can get everything through before December. We also moved in one week before our daughter was born and it was not easy.

Maybe you can find a foreclosure and pay for it in cash as another reader stated above. There are probably plenty in San Diego. Good luck.