You Said What???
That is the answer I got from numerous developers I have spoken to about creating the platform
Speaking to 15 plus developers = Not all conversations are equal
They either said...
Luckily, there are ways you can still get a mortgage as long as you are diligent about your paperwork.
Many people think you have to own the business for at least two years before you can even apply for a loan.
You own it for one year and need a mortgage.
The paperwork is often the nightmare of getting a mortgage as a self-employed borrower.
What do your income taxes show?
If you have some type of extraordinary income that only happens once or twice, chances are the lender will exclude it from your qualifying income.
Lenders use these statements to confirm your income, look for windfalls, and look for anything else suspicious when processing your loan.
Again, each loan program and lender varies regarding the self-employed borrower’s mortgage.
It’s best if you maximize your credit score by paying your bills on time, minimizing your outstanding credit card balances, and keeping a good mix of credit vs installment loans.
Your mortgage application must show some ‘compensating factors’ for your risky income.