Ocala Florida Real Estate-Self Employed getting a mortgage Read This!
From Freedie Mac:
Requiring Sellers to obtain and analyze the Borrower’s individual federal tax returns to determine the impact of a business loss on the income used to qualify regardless of whether or not the income is used to qualify when the Borrower is self-employed
What that means is if you have one W2 earner and your spouse is self-employed and is taking a big loss on their business it is going to affect the wages of the W2 earner even if the spouse is not on the application for the loan.
Ocala Florida Real Estate where buyers get great deals! Call Dawn Rupersburg 352-553-3369