Self Employed First Time Home BuyerI am planning to buy my first home sometime this summer but am concerned that because I am self employed that my net income will not be enough to buy the condo I want. Nothing crazy just looking to borrow 150-200k for a condo located in Chicago.My gross income for 2011 is just under 100k and I am going into my fifth year of self employed business, but the last couple of years I purchased a lot of equipment to run my business so I wouldn't have to worry about getting it after I buy a home. So now I am afraid that my tax deductions will hurt my net income and I only have about 5% to put down right now. I have paid off all of my credit card debt, car loan, and have a good credit score of 750, but is this all enough to get approved for the amount of money I want to borrow? Only I will be applying for the loan no co-signers.April 08 2012 - Chicago00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.