How to get a loan with less than 2 years of self employment income…
I see this come up alot and I wanted to clarify self employment qualification.
The traditional guideline for seasoning of self employment income is 2 years of filed tax returns. These 2 years will then be averaged to get an income figure for you.
However, it is possible in some circumstances to get a loan with less than 2 years of self employed income.
The key is that you have to document the job you had prior to being self employed was essentially the exact same job you are doing now as a self employed person. If you can document this you have a chance to get financed.
The next thing is you must have filed at least 1 years tax return with a full 12 months of self employment income on it.
If you can show these two things – that you were doing the same job before you were self employed, and you have 1 years filed tax returns with 12 months of self employed income, then there’s a good chance I can get you a loan.
If you are in this situation – give me a call or shoot me an email. I can probably help you out!
Thanks for reading, and have a great day!
Brett
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