| Made a lot more money then last year, how can I get mortgage |
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ghurty
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 24 Jun 2012
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| Made a lot more money then last year, how can I get mortgage |
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I am looking to purchase get a mortgage for a first time house purchase.
I am self employed, and the last few years (since I started my business), I have not showed that much profit on my tax returns. Not nearly enough to get a mortgage.
However, this year, so far I have made well into the six digits.
I know most banks only look at your tax returns, but is there any way to still get a mortgage before filing next years returns? Are there any banks that take into consideration money sitting by them or in CD's?
Thank you
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Sun Jun 24, 2012 4:53 pm |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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Try a bank that does manual underwriting. They don't look at credit scores, what they look at is proof of income, stability at your job, debt to income ratio and other items. Try Churchhill mortgage to get a start.
Risk comes from not knowing what you're doing. (Warren Buffet)
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Mon Jun 25, 2012 2:05 pm |
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tim_toronto
Member
Cash: $ 3.40
Posts: 16
Joined: 25 Mar 2012
Location: Toronto
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A bank will definitely consider your cash on hand. I wouldn't just apply for a mortgage at a bank though because your not going to get the best rate. Try searching for a mortgage rate at a site like http://www.mortgagerates.ca ...
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Sat Sep 15, 2012 4:25 am |
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