Best Mortgage Option for Self Employed Buyers Uses Bank Deposits Instead Of Tax Returns

Best Mortgage Option for Self Employed Buyers Uses Bank Deposits Instead Of Tax Returns

If you are self-employed and have tried to get a mortgage, you know the challenges. As the owner of your own business, when your company does well, you actively try to put money back into the company. It’s an investment in your business, and a tax write off. It’s good business. You leave yourself less spending money for vacations and fun activities because you’re building your future. You dine out less than you easily could because when you have extra money, you purchase something extra for your company. $1200 extra this month? Why not pay for some extra advertising for the slow season. $5500 extra? Purchase a new point-of-sale. That’s how it goes when you’re self-employed, isn’t it? Forever, that meant you were out of luck when it came to a mortgage because when lenders were looking at your tax returns to judge your debt-to-income ratio and your extra spending money, it looked like things were incredibly tight for you. You and the banks both know that you could have done without the new point-of-sale machine. You already had one that worked good enough. You and the banks both know that your advertising was merely an investment that would bring you even more income next year. But the rules were the rules.

These days, there’s a new option and it’s incredibly exciting for people who own their own businesses. Now, homebuyers who are self-employed have the option to get a bank statement loan. This was introduced specifically for people who have faced challenges qualifying for a mortgage but can actually afford the payment. The self-employed.

With bank statement loans, the lenders will ask for bank statement deposits as your proof of income instead of your tax returns. Then, they will take a percentage of the average deposits into your business accounts and/or 100 percent of the deposits in your personal account and they will use that to determine if you can actually afford the mortgage payment.

So, if you tried to get a mortgage just a few years ago, but were denied because of your self-employment and good business practices, ask your lender about applying for a bank statement loan today. Get your pre-approval letter, and then call us this week so that we can get you into your Dubois County dream home!

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Rare opportunity to customize and make your own! This massive 4-bedroom, 4-full bath residence offers over 4,200 square feet of spacious, versatile living space, perfect for families of all sizes. Nestled in a serene location, edging a golf course and close to restaurants and shopping, this property boasts a unique blend of character and comfort, while presenting an incredible opportunity for customization and enhancement as a fixer upper. As you step inside, you'll find an enclosed porch with numerous windows, creating a bright and airy space ideal for relaxing, reading, or enjoying the outdoors without leaving the comfort of your home. Next, you’ll be greeted by the living, dining, and kitchen areas. The kitchen offers plenty of room and light along with dining space. Just off the kitchen is a dining room, or if preferred, could be used as your home office. The living room features large picture windows with a cozy fireplace. Throughout the home, you'll find beautiful original hardwood floors that add warmth and character to each room. The four generously sized bedrooms provide ample space for relaxation and privacy. The master bedroom is complemented with an en suite containing a closet which offers the convenience of main level laundry. One of the standout features of this home is the walkout deck on the upper level, offering a gorgeous view. Whether you're enjoying your morning coffee or hosting an evening gathering, this outdoor space is perfect for soaking in the beauty of the surrounding landscape.  The home is also equipped with two HVAC units, ensuring optimal comfort and climate control year-round, no matter the season. Additionally, the 2-car garage offers not only parking but also additional storage space. The garage includes a walkout basement, providing endless possibilities for customization – think of it as a blank canvas for your workshop, home gym, or additional storage area. For added convenience, the home features two laundry hook-ups, allowing you the flexibility to choose either the main level or the basement for your laundry needs. Both the main and basement levels are enhanced by cozy fireplaces, perfect for creating a warm and inviting atmosphere. The house also boasts numerous built-in storage solutions and an abundance of closet space, ensuring that all your belongings have a place. Don't miss out on this exceptional fixer-upper – it's a rare find in today's market and an opportunity you won't want to pass up. Sold "As Is" $232,500 Active

1804 Newton Street Jasper, Indiana

4 Beds 4 Baths 4,281 SqFt 0.490 Acres

Listing courtesy of Jesse Peters from eXp Realty, LLC.

Introducing this charming all-brick home featuring a desirable split floor plan with three bedrooms and  two and half baths.  Enjoy ample natural light in the cozy sun porch, perfect for relaxation or entertaining.  This home offers a blend of comfort and functionality with its open floor plan.  Dining room has a sliding door leading out to the secluded patio.  Half bath also serves as the laundry room with a stackable washer and dryer which is included and only 2 years old.  The overhead garage doors and microwave are 2 years old.  Dishwasher is 6 months new. Driveway has an extra parking pad. $282,000 Pending

1659 White Oak Drive Jasper, Indiana

3 Beds 3 Baths 1,449 SqFt 0.350 Acres

Listing courtesy of Brenda Krempp from RE/MAX Local.

Welcome to your worry-free dream home! This immaculate real estate listing boasts a myriad of recent upgrades, ensuring you can move in without the stress of potential breakdowns. From a recently replaced roof and a brand new HVAC unit, bathroom fixtures, kitchen cabinets, windows, blinds, landscaping, and kitchen appliances, every aspect of this property has been carefully refurbished for your comfort and convenience.   Additionally, you’ll find a new washer and dryer, garbage disposal, and flooring, completing the picture of a truly move-in ready residence. With immediate possession available, you can start enjoying your new home without delay. To further ease your mind, the seller has provided a home inspection for your convenience, giving you peace of mind about the quality and condition of your new abode. Don't miss this opportunity to step into a home that's not just beautiful but also worry-free and ready for you to make it your own. $215,000 Active

415 Giesler Road Jasper, Indiana

3 Beds 2 Baths 1,296 SqFt 0.280 Acres

Listing courtesy of Ryan Craig from RE/MAX Local.