Self Employed Borrower 1YR Tax Return

Core Mortgage Financial has a new loan program that only requires one year tax return for self employed borrowers. The borrower must have at least two years self employment. Self employed borrowers can either be 1099 independent contractors or business owners.  If your personal return incurred write-offs and your adjusted gross income was drastically effected for 2010, that's OK !If  you do not expect write offs for 2011, we have a loan program for you. Now is a great time to take advantage of this unique loan program. Let us assist you with the debt vs income ratios.

Who is a self employed borrower?
A self employed borrower has at least 25% ownership in their business. If the borrower receives 1099  income from their employer, they are also eligible if they file a schedule C.
Core Mortgage Financial has licensed loan originators standing by to assist you now. Please call today so we can evaluate your current situation!

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Core Management Team !
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Mortgage:
Collectively, the security instrument, the note, the title evidence, and all other documents and papers that evidence the debt. A Mortgage is a loan secured by a lien on real estate held in fee simple or on an acceptable leasehold estate. A loan made for the purpose of purchasing, building or rehabilitating real property, and secured by that property. A pledge of real property as collateral for payment of debt. The term is also used to describe both the mortgage (security instrument) and the promissory note evidencing the debt, which includes the terms of the debt’s repayment.

Note:
The evidence of indebtedness for a mortgage loan. A note is the instrument evidencing the indebtedness secured by a security instrument that sets forth the amount the owner owes the lender and the manner in which the debt is to be satisfied. The note establishes the payment terms, conditions under which prepayments may be made, and the lenders rights in the event of default. A written agreement between the mortgagor and the mortgagee specifying the amount and terms of repayment for a loan.

Rates, Programs, guidelines are subject to change without notice. Consult your tax advisor for any tax related questions. 
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