Disney Financial gets a Self Employed client the documented income needed for a loan

Another Miracle from Disney Financial, we recently received a referral from another satisfied client.

This new referral was in the trucking business and the business made over $200,000 in a year Of gross income.

However. since he was self-employed, the client wrote off all expenses and the net income was only $8,000 per year for the last 2 years.

How in the heck can anyone expect to be positioned to purchase a new home for S300,000 with a 10% payment…when they have so little verifiable income?

The Disney team got right to work.

We reviewed the tax returns and looked for potential items that could be added back to income.

Well, the Corporation Tax Return had a depreciation of $24,000. I knew from my years of experience that depreciation. as listed on the Corp Tax Return, meant we are able to add this line item back to the income calculation.

This experience proved invaluable, it allowed us to stay within the lender guidelines and allowed this client to qualify for loan approval.

Then we found that there were one-time expenses to an attorney. We were permitted to add this back to the income calculation. Finally. one more item…this client had $42,000 in expenses for “parts’.

The client had one-time expenses to retrofit his truck to meet emission standards.

I am so happy to tell you that this client’s loan was approved and his family is now out shopping for a new home.

We took this from impossible to Loan Approved in just 3 weeks.

Next time you are facing a mortgage dilemma, remember to call your friends at Disney Financial. They have the experience that you are looking for!