Many Self-Employed people that attempt to obtain a loan, encounter a problem when the loan they are trying to get is based on the income that shows on their tax returns. As most Self-Employed individuals do, they have taken as many tax write-offs as they can, in order to achieve a lower taxable income. Unfortunately, most Agency Loans will use this SAME dollar amount as the income to qualify you for your loan, which if too low, can prevent you from obtaining a loan.
A NON-AGENCY loan still has to qualify you based on income but offers alternative methods of proving income. You can be income qualified, based on 12 month or 24 month bank statements, with either personal or business accounts.