How to Make Getting a Mortgage Easy for Self Employed in Houston, Texas


In Houston, Texas its easy for the self employed to get a mortgage.  Until today most self employed borrowers could not get a mortgage because they had too many write offs on their tax return.  This sound financial management strategy made it very difficult for self employed borrowers to buy a home. There are a couple secrets that have been closely held until today!  Most loan officers and Realtors in Houston don’t even know the secret that I am going to tell you!

Use a short term immediate annuity to create a verifiable income.  The term must over three years (most life insurance companies require a five year term.)  The payment must be enough (when combined with your other income) to decrease your debt to income level to an acceptable level.

If you have a few months to qualify, you can set up a trust that makes monthly payments to you for a period in excess of 3 years after your first mortgage payment.  The trustee must write a letter guaranteeing those payments.  You must have received some of the trust payments prior to submitting your loan to underwriting.

For more information, please feel free to call Rich Bonn at 281.841.1723 or comment below.