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Made a lot more money then last year, how can I get mortgage

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Made a lot more money then last year, how can I get mortgage  Reply with quote  

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
Post Sun Jun 24, 2012 4:53 pm
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Cash: $ 384.35

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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)
Post Mon Jun 25, 2012 2:05 pm
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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 ...
Post Sat Sep 15, 2012 4:25 am
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