Self employed - mortgage declined. Need advice

I actually specialize in business calculations and assisting the underwriters in determining the income. The underwriter should be factoring in the net income from all 3 businesses. Get into touch with me I should be able to help you - 888-320-7888 - www,MortgageWholesale.net - Ken

You should definitely be working with a broker. If you would like to discuss give us a call. All the best! Michelle

There should be no reason why your income from all 3 businesses can't be used. To get the best possible interest rate & loan cost, stay away from working directly with banks. I know this sounds a bit crazy, but it's true. They take tremendous advantage of borrowers because they know they can get away with it, which, way more often than not, they do. I just did a loan for a client who had her loan with Wells Fargo Bank, so she was going to do it direct. WFB just happens to be a lender of ours as well. Believe it or not, I was able to get her a lower interest rate, saving her $30/mo., and do her loan at no cost, which saved her $3,000. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to discuss lender and loan alternatives with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 39 quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

There are some good answers to your question already it seems! I thought I would add that indeed lenders can be just different enough thatone may do the loan and one may not. So the knowledge at least two brokers convey here...experience can help guide them on your particularscenarion and who might do it. Being a direct lender with alot of different corresponding lenders we see different overlays for each lender.However without actual review of your documentation none of us can determine for certain whether they will use the income. We do knowwho are best bet or bets might be though, and our careful preparation & presentation of your loan can be the difference. One writer hit on a good answer in using all three of the net incomes together. It ought not matter...the significant decline to the point of disregarding it.I had a similar situation wherein a broker was brokering the loan to a larger bankand they did their "audit" as they described it on the income and could not see the forest for "their personal view" of the trees!

In finishing the statement about the broker to the bank who would not figure in income even with their special audit...I took over the loanand my borrower still got his dream home within the timeline.