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How to Qualify for a Mortgage without Tax Returns

· low doc,stated,bank statement loan

You're self employed or a 1099 sub contractor, and you write off all of your expenses and show very little in income, but you're actually flush with cash. Yes, this is every self employed person that you know. The good news is banks have been working with entrepreneurs and business people for a long time, and some of us know how to get this done without tax returns. Here's what you're going to need:

* 12 months bank statements

* Copy of business license or a letter from accountant stating how long you've been self employed

* YTD profit and loss statement (eventually)

* Decent Credit Score

* 20% or greater down payment

That's it for now. Expect a 5 Yr ARM or 30 Yr Fixed and a slightly higher interest rate. Hope that helps. Feel free to contact me if you have any questions at 949.667.2887 or

- Brian Nguyen is a senior loan consultant (NMLS 659743) who learned more about this stuff than he ever intended to. The opinions expressed here are solely his own.

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