How to Buy a House When Self Employed

Buying a house when self employed and getting home loan to finance your property purchase can be one of the most challenging processes.

Small business owners and self employed, keep an eye on these three things – credit score / credit report, business profits, asking price of property and be financially organized - before home buying underwriting or refinance with a lender.

In this video, I go into detail on the things many millionaires overlook when buying a home. Even if your business is making money and your self employed income is good, you’ll want to check out this video before real estate investing.
----------------------------------

-----------------------
Let’s connect:

-------------------------------------
#HowtoBuyaHouse #SelfEmployed #StephanieKremic

[StephanieKremic]

Are you planning to buy or refinancing a house? Or have you already started? I look forward to hearing your experience.

[ThePresentTimeNow]

Hi Stephanie, I’m not a millionaire nor am I multi millionaire right now, but I am self employed. I do want to purchase a home in 2023. I currently own my home, but will have to sell to obtain the down payment. My credit score is 725, I do have a derogatory mark and I do have late payments….however, I have been consistent and doing better which is why my score is back to 725. I know lenders do look at those late payments and derogatory marks, but is there a time on it? My score is pretty good now and I am have I have no consumer debt, but I had a hardship back then so that’s what caused my late payments and derogatory mark. I would like your expertise on this, please.

[groneass]

Is there a legal way to use my business to purchase a home AND service the monthly payments?

[kylenorthrop]

I'm the owner of a business (S-corp) and on payroll as an employee and the lender won't accept my income. It's BS

[popspops]

How many years tax return you need to provide if your building a new home 2 years or 3 years

[Dev-dv]

God I hate this system. We all just want a decent home to live in without all this pomp and circumstance. So much bureaucracy and red tape, its pure insanity.

[colleenwynia]

Stephanie I always value your financial insights. So true about self employed persons qualifying … and great reminder to regularly check our credit score to ensure there are no “remarks” some lender or company left about late payments. Perhaps in a future video you could speak on ways to improve credit rating scores (the fastest ways to improve)!! 🙏🙏🙏

[RHEC]

Ssoooo in other words don't even bother

[qmccall]

I just pay cash - no headaches. Also when I did finance as business owner. I learned 20-30% down with reserves usually makes an easy process.