Self Employed? The Form Said No. Here Is Why

Self employed and the mortgage form said no? The reason is almost never what the borrower is told. Nobody says no because you cannot afford the house. They say no because the application only has a box for a paycheck, and a business owner does not get paid in paychecks. The form was built for W2 income and it reads everything else badly. Then there is the trap that catches good accountants. Write offs are how a strong year looks small on paper. Every legitimate deduction that lowered the tax bill also lowered the qualifying income an underwriter reads back out of the return. The better the tax work, the weaker the file looks. So I read the deposits instead. Bank statement review looks at what the business actually brings in month to month, before the tax return compresses it into one small number. This is what a mortgage broker does differently. I broker at wholesale, which means no branch and no retail sales floor between you and the lender. If a bank read your file and said no, that is one lender's read of one form, not a verdict on your business. Self employed, 1099, business owner, gig income, or commission only, across Chandler, Gilbert, Mesa, Tempe and the Phoenix metro. Bring me your bank statements and let us look at the real number together. No pressure. Just the paper. 855-CALL-JAKE https://www.jaketaylor.com/ More videos: https://www.youtube.com/@jaketaylormortgage Jake Taylor, NMLS , licensed in Arizona Barrett Financial Group, LLC, NMLS Equal Housing Opportunity 2701 E Insight Way, Suite 150, Chandler, Arizona 85286 This video is for informational purposes only and does not constitute a loan offer or commitment to lend. All loan products subject to credit approval. Programs, terms and conditions subject to change without notice. Jake Taylor Home Loans operates as a mortgage broker through Barrett Financial Group, LLC. Licensing information available upon request.