Self-Employed Mortgage | Sole Proprietor Income, How Do Lenders Calculate It? скачать в хорошем качестве

Self-Employed Mortgage | Sole Proprietor Income, How Do Lenders Calculate It?

Mortgage mastery for the self-employed. Calculating sole proprietorship income from Schedule C. Have any questions or want to talk about your situation? Let's chat! 📞Text or call 503-799-3711 📞 📩 [email protected] 📩 Schedule a call: https://calendly.com/juleef/let-s-say-hi To apply: https://rate.com/juleef Lending wherever you want to call “home” 🏠❤️ -- in all 50 states. In this video: 00:00 - Introduction 01:18 - How to tell if you’re self-employed (according to a lender) 02:41 - Documentation: what do we need from you? 03:09 - Documentation: tax returns 03:44 - Documentation: tax extension forms 04:08 - Documentation: profit & loss statement 04:54 - Documentation: balance sheet 05:13 - Let’s look at your Schedule C 05:41 - Why don’t lenders use gross income for loan qualifying? 06:04 - How tax write-offs affect your loan qualifying income 06:31 - Lenders make adjustments to the income on your tax return 06:58 - Why do lenders make these adjustments? 07:34 - How do tax rules come into play? 08:23 - Let’s talk about the adjustments 08:39 - Adjustments for conventional conforming loans 09:04 - Non-cash flow expenses that we can add back into your income 09:34 - The Magic 4: Depletion 10:22 - The Magic 4: Amortization 11:22 - The Magic 4: Depreciation 13:17 - The Magic 4: Business use of home 14:03 - Deduct from your income 15:17 - Meals and entertainment on your Schedule C 16:01 - Non-recurring income 16:14 - Continuance: what does that mean for income? 17:37 - Non-recurring expenses 18:54 - FHA loan rules for self-employed income 20:01 - Va loan rules for self-employed income 20:43 - A weird thing about VA loan rules 21:42 - USDA loan rules for self-employed income 21:52 Jumbo Loans and self-employed income 22:43 - How lenders treat business debts 25:30 - Case study: Let’s calculate income for a sole proprietor! Self-employed mortgage playlist:    • Self-employed or Freelancers: this list is...   Self-employed mortgage principals:    • Self-Employed? Here’s How to Get a Loan!   Fannie Mae form 1084: https://singlefamily.fanniemae.com/me... Julee Felsman, SVP of Mortgage Lending NMLS 120831 Guaranteed Rate Inc NMLS 2611 Equal Housing Lender. www.nmlsconsumeraccess.org www.rate.com/licensing www.rate.com/privacy Branch address: 1300 SE Stark St Ste 111, Portland, OR 97214 State Licenses: AK - AK120831, AL - 73482, AR - 117882, AZ - 1002329, CA - CA-DBO120831, CO - 100514850, CT - LO-120831, DC - MLO120831, DE - MLO - 120831, FL - LO66603, GA - 67474, HI - HI-120831, IA - 34589, ID - MLO-2080120831, IL - 031.0056868, IN - 42483, KS - LO.0039957, KY - MC713848, LA - Licensed, MA - MLO120831, MD - 120831, ME - Licensed, MI - 120831, MN - MN-MLO-120831, MO - MO-120831, MS - 120831, MT - 120831, NC - I-187748, ND - NDMLO120831, NE - Licensed, NH - Licensed, NJ - Licensed, NM - Licensed, NV - 65660, NY - Licensed, OH - MLO-OH.120831, OK - MLO21956, OR - Licensed, PA - 74700, RI - Licensed, SC - MLO - 120831, SD - MLO.09183, TN - 203658, TX - Licensed, UT - 12003187, VA - MLO-41738VA, VT - VT120831, WA - MLO-120831, WI - 120831, WV - LO-120831, WY - 8673 Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information. Guaranteed Rate has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein. Content found in these videos is public information. However, all information including text, photographs, etc. is copyrighted and is protected by United States and international copyright laws. These videos may not be used, reproduced, or distributed for commercial purposes without prior written consent from Julee Felsman and Guaranteed Rate.