Comments on: Qualifying For A Mortgage As A Freelancer – An Exercise In Patience.

By: Samantha Verou

Samantha Verou — Wed, 16 Dec 2009 21:11:41 +0000

I just tried a goole search for the term “freelancer mortgages” in the United States and to my surprise you don’t have any specialist mortgage brokers that help freelance contractors with mortgages. We have lots of networking sites just for freelancers that provide information ranging from mortgages, pensions, tax advice to legislation governing freelancers. There seems to be much more support for us over in the UK.

By: My Two Dollars | Money Smart Life

My Two Dollars | Money Smart Life — Sun, 22 Nov 2009 15:20:48 +0000

[...] Qualifying for a Mortgage as a Freelancer [...]

By: Carnival of Personal Finance at BankerGirl - Articles, tips and advice on how to become debt free in 2009 (and beyond…) - Debt Free in 2009

Sun, 26 Jul 2009 13:13:48 +0000

[...] Two Dollars – Qualifying for a Mortgage as a Freelancer – An Exercise in Patience. Takes a look at the challenges of qualifying for a mortgage without regular, varifiable income [...]

By: What’s In The Economic Stimulus Package For You Other Than Cash? | Velt

What’s In The Economic Stimulus Package For You Other Than Cash? | Velt — Sat, 21 Mar 2009 20:42:10 +0000

[...] If you are a first-time home buyer and buy a house in before December 2009, you can take an ,000 tax credit that you don’t have to pay back. This is one that I would like to take advantage of, if we can find the house we want AND we can get approved for a mortgage while I am self-employed. [...]

By: David

David — Sun, 08 Mar 2009 15:16:42 +0000

Absolutely, thanks Colin. We did decide to put it off for a bit, but hope to make the decision this year. Thanks!

By: Colin

Colin — Sun, 08 Mar 2009 04:33:27 +0000

David – The incorporation idea is actually a pretty good one. Taxes are honestly not an issue. If you incorporate as an LLC or an S-Corp and you’ll be taxed as a pass through entity by the feds (double check to make sure that the state you’re from will tax you as a pass through entity, as well – most do). It does take some time or money to incorporate and to maintain the entity you’ve created. However, think of it as the cost of buying a home.

By: david

david — Fri, 06 Feb 2009 22:09:58 +0000

I agree Brendan, it’s not pretty. We have put off looking to buy for a bit, but we were disappointed that for as much as we made, the mortgage brokers and bank didn’t care.

By: Brendan X. Byrnes

Brendan X. Byrnes — Fri, 06 Feb 2009 21:42:50 +0000

This issue will not even cause a blip on the radar screens of our elected officials. I ran into the same problem. My wife although she had excellent credit ( mine was good) is a working actress, constantly doing film, commercial, industrial training videos print and voice over work. We write off a lot , all legally, but what’s good at tax time during these tough times is not good for qualifying for mortgages. Just another example of the system squashing entrepreneurship. This issue requires fundamental changes in how the FHA and Gov. agencies work. I am not optimistic. Any one want
to band together and help alert the new administration- let me know.

By: Moving Yet Again But Saving Even More This Time. | My Two Dollars

Moving Yet Again But Saving Even More This Time. | My Two Dollars — Thu, 06 Nov 2008 17:01:02 +0000

[...] house for sale – but we are not buying anything just yet. Between house prices still falling, the difficulty of getting a mortgage with freelance income, and our idea of finding a vacation cabin to buy, we are going to rent again. And we just signed [...]

By: WealthiHer Blog Network » Blog Archive » Carnival of Personal Finance at BankerGirl

Tue, 16 Sep 2008 15:26:26 +0000

[...] Two Dollars – Qualifying for a Mortgage as a Freelancer – An Exercise in Patience. Takes a look at the challenges of qualifying for a mortgage without regular, varifiable income [...]