UnThreaded | Threaded | Whole Thread (38) | Ignore Thread Prev | Next
Author: kahunacfa Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 126962  
Subject: Re: Debt-to-income ratio if self-employed Date: 3/24/2013 2:15 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
...Regarding your "business credit cards" if you personally guaranteed them (99.999% likely,) then they count.

And then I also have questions about how income is calculated. Do they use my Schedule C? I have a $2000 per year depreciation write-off from the original purchase of the business. Will that $2000 be considered part of my annual income for purposes of qualifying?
Yes, if its tight a good underwriter will add back in your depreciation. ...
- Dwdonhoff | Date: 2/11/2013 11:54:40 AM | Number: 124984

I have been self-employed as a Venture Capital Portfolio Manager since I "Retired" at the end of 1995 at 50. Lenders ALWAYS want personal guarantees of Business Debt. You just always have to do what I do -- Tell them to "Go Pound Sand!!!"

Kahuna, CFA
Founding General
Partner, VC Limited
Partnership 2012 - 2019
Kailua-Kona 96745
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (38) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement