Self Employed Mortgage Loan – Getting A Mortgage When You’re Self Employed

Written by Carrie Reeder

Being self employed has many benefits. When you are self-employed, you can write off all of your deductions on your taxes. You haverepparttar potential to make more income than someone who is employed by someone else. You haverepparttar 148745 freedom to be your own boss. One ofrepparttar 148746 few times when being self employed has some drawbacks is when you go to get financing for a home or a major purchase. But, here are some things to know that can help you makerepparttar 148747 mortgage loan process run smoothly when you are self employed.

When verifying income - In general, lenders want to see at least 2 years of self employment history, sometimes they want to see 3 years. They will want to see this history verified in tax returns, usually. Sometimesrepparttar 148748 lenders will figure your income as beingrepparttar 148749 average income you claimed on your income taxes as profit, not your gross business income. Sometimesrepparttar 148750 lender will figure your income asrepparttar 148751 lowest ofrepparttar 148752 two years and sometimes asrepparttar 148753 highest ofrepparttar 148754 two years. Talk to your mortgage broker or lender and find out which way they verify. Sometimes lenders will figure a portion of your write-offs or deductions back into your income. There are ideas of other ways that a lender may be able to verify your income and if you are self employed it will help you to be able to show a more of your income.

A. Use bank statements as proof of income – Find a lender who will accept 1-2 years of bank statements as proof of income. It is becoming more common nowadays for lenders to verify your income this way. This way usually works better in proving income than going off of your tax returns, because you can usually prove a lot more cash flow than tax returns will show. On your tax returns you usually subtract each and every business expense before you claim any profit. When using bank statements, you are still proving income, this does not put as much emphasis on your credit score or down payment asrepparttar 148755 stated income or no doc loan will.

Option Trading Tips - LEAP Into Future Profits!

Written by James Thomas

A LEAP (Long-term Equity Anticipation Product) is simply a long-dated option.

LEAP options that don't expire upto 2 years intorepparttar future giverepparttar 148729 buyer much more time to be right aboutrepparttar 148730 future direction of a stock and atrepparttar 148731 same time offer tremedous leverage.

LEAP option trading has become quite popular in recent years because just like all options, LEAPs only cost a fraction of what it would cost to buy shares inrepparttar 148732 underlying stock itself, but give yourepparttar 148733 same amount of control.

As with all options though, time isrepparttar 148734 enemy (if you are a buyer) and over time options lose their value.

So how can we use LEAPS to speculate onrepparttar 148735 future direction of a stock (UP or DOWN) and atrepparttar 148736 same time reduce our risk of losing all our money on them?

Well let me share with you a couple of simple LEAP option trading strategies that have worked well for me overrepparttar 148737 years in both bull and bear markets...


If you believe a stock will go UP overrepparttar 148738 next 1-2 years, then buy Call option LEAPs on it and atrepparttar 148739 same time sellrepparttar 148740 call options (at least one or two strike prices out ofrepparttar 148741 money) that expire inrepparttar 148742 current month.

If you believe a stock will go DOWN overrepparttar 148743 next 1-2 years, then buy Put option LEAPs on it and atrepparttar 148744 same time sellrepparttar 148745 put options (at least one or two strike prices out ofrepparttar 148746 money) that expire inrepparttar 148747 current month.

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