Technically, I have no employer. I can make $20,000 in a month, and then not make anything next month.
Can you still qualify for a home loan with this source of income? Do state laws vary? I’d be interested to move to Texas or Maryland.
All these answers suck thus far. Come on Y!A Community! You can do better. Someone please answer it good.
Try to stabilise your income, by investing/cashing in at different times, and/or by putting less eggs in each kind of investment basket. Then just draw up the stats of your earnings over time, your expenses etc., to show that you’ve healthy projections for the future, and that they’re proven by historical evidence, despite ups and downs in the market etc. Any bank manager should appreciate decently produced statistics, if you have anything stable there to use. Especially if you can show that you paid rent and built up a downpayment at the same time.
you must use a 24 month average income supported by tax returns as self employed to get a loan
References :
Try to stabilise your income, by investing/cashing in at different times, and/or by putting less eggs in each kind of investment basket. Then just draw up the stats of your earnings over time, your expenses etc., to show that you’ve healthy projections for the future, and that they’re proven by historical evidence, despite ups and downs in the market etc. Any bank manager should appreciate decently produced statistics, if you have anything stable there to use. Especially if you can show that you paid rent and built up a downpayment at the same time.
References :