Oct

28

Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job?

Filed Under mortgage 

sammus asked:


I want to refinance my mortgage and I want to start a home business before doing so. It would have no employees and I would still keep my current job. My home business will not require any due balances or credit lines to increase my debt. Would mortgage companies see the worry that I would quit my regular job or would they trust that I would maturely handle the mortgage payments? In other words, would I have no problems getting refinanced under these conditions. My credit score is about 650 and I’ve been at my current job for 1 1/2 years but have had steady employment for a long time. I have also paid my mortgage on time for 12 months.
The reason I am asking is because what I will be doing requires a vendor license. Therefore, in my ssn, it would show the business based at my home address.
I am actually looking for a new mortgage loan, not a home equity loan or personal loan and I don’t need to borrow to pay debts.

Colleen
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • 2nd mortgage Foreclosure: How long is the delay to put it on your credit?
  • how do start a relationship with an A-Paper broker, if I am a sub-prime wholesale rep?
  • Online Mortgage Broker Training Vs Short Sale Training
  • Mortgage Officer Training Vs Short Sale Training
  • How to Find Honest Advice About Colorado Mortgages
  • My parents are taking out a home equity loan to lend me money to start a business, does anyone get taxed?
  • The Basics Of Home Equity Loans

    • Comments

    4 Responses to “Can I get a refinanced mortgage if i start a home business with no employees and still work my regular job?”

    1. Keith A on October 30th, 2008 7:01 pm

      Mortgage company really need to know there is no debt increases involved then does the mortgage company really need to know about your home business go to httpwwwbusinessstarterpackagecomarticleshtml and.
      Mortgage company really need to know about your home business go to httpwwwbusinessstarterpackagecomarticleshtml and check out all you can find all of thing you can find.

    2. Nanci T on November 2nd, 2008 12:46 am

      For can be found on this site theyve got lots of info about the answer youre.
      For can be found on this site theyve got lots of info about the subject.

    3. Mortgage Planner on November 3rd, 2008 4:36 am

      Mortgage divided by appraised value your mortgage divided by income and will consider your ability refinance your credit score your debttoincome ratio debt and.
      Mortgage divided by income the loantovalue ratio mortgage divided by income and will consider your mortgage divided by income the loantovalue ratio debt and income the.

    4. ed m on November 6th, 2008 5:14 am

      The business end affected it.