Lender that will use only my W2 income and not my business

[Allen Collins]

Hey everyone! I’m trying to get a loan from that won’t  they won’t have to consider my business. My W2 income alone would qualify me for a $600,000 loan but when they apply the losses some of my businesses took I can’t get any loan except for a business statement loan and they want me to put down 25%. Is anyone able to help? 

[Scott E.]

This is a common predicament for self employed borrowers.

Your CPA is always going to do everything they can to help you reduce the amount of money that you 'made' on paper.

Your Lender is always going to want to go off of whatever your CPA says that you 'made' on paper.

If you can prove that some of those business expenses were 1 time expenses and will not be likely to reoccur, the lender should be able to exclude those specific expenses which would give your net income a boost.