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Real Estate Home Mortgages/Home loan and the small business owner


k wrote at 2013-02-22 12:13:54
Getting pre aproved and getting the loan are 2 diferent things. usually they like 2 years and they want your busness to Earn a profit clamed in its taxes for those 2 years or they may just preaprove you based on your income but when you go to sign a morgage after finding a home your loan will fall through. it is very hard to get a loan if you are a owner your employees have a better shot. this just happened to us my hubbie is an owner but the company only clamed a profit for one of the 2 years befor our atempt ( been in busness for 7) one we reinvested the profit into inventory because it was growing so fast. they Pre Aproved us for $500k, so we decided to buy a nice 3bed 2 bath for $140k that we could pay off in 5 years. we hadd $100k for a down payment.  2 weeks befor closing we where toled by the bank that we didnt qulify for the lone based on the busnesses taxes and we where concidered 2 high risk. Simmilar thig happened to my friend who owns an boar electronics company, they can only get a morgage based on his wifes income.

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This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

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Bret Temple


I can answer any question that pertains to Real Estate Finance, both in Residential and commercial Real Estate. This includes questions on Financing the purchase of a new home, refinance, debt consolidation, 100% Financing Loans, FHA, VA, and pers/Sters Loans as well just to name a few.


I have over 10 Years in the Mortgage Lending Field, working as both a Banker, and now currently owning my own Mortgage Brokerage Firm. I specialize in working with Family Law Attorneys, Estate Attorneys, and First Time Home Buyers, although I don't limit myself, and welcome any kind of client in need of financing. Because I also Interned at Merrill Lynch, I have thorough knowledge of Financial Planning and utilize that knowledge when helping someone to find the proper loan to suit their needs. I am also qualified to assist clients in credit counseling, at no charge to them at all.

Southland Regional Association of Realtors

Bachelor Degree in Business Administration (emphasis on Finance) California State Real Estate License

Awards and Honors
Highest Producing Agent 2004, 2005, 2006

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