Profile picture for SelfEmployedLV

Self Employed Seeking Mortgage in Vegas

I now find myself in a position to purchase my first home.  I have been told that being self employed makes it difficult to obtain a mortgage.  My situation: 32 years old, Average balance of $40-$50k in the bank, profitable retail business. Inventory value is $223k, no debt on inventory. 2010 and 2011 net income is relatively low as I paid for inventory in full.  Any suggestions where to start? (purchasing in Las Vegas, NV) Thanks in advance!
  • June 19 2012 - Las Vegas
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Answers (2)

Profile picture for wetdawgs
As long as you have income tax returns (2010 and 2011)  from the last couple of years showing you have sufficient income to support the mortgage requested, you should be fine.     Being self employed does cause problems if you take a lot of write offs so you can't support the income requirements needed.
  • June 19 2012
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I have a great lender that I have worked with for over 16 years. She is very good and is a wonderful person. You can contact me and I will get her contact information to you. Then you will know exactly where you are.
Thank You
Suzie Marquardt
  • June 19 2012
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