High Income & No Debt, But No Bank Loan

[Justin Madison]

I have a friend I’m trying to help. He owns his own business and makes good money, $200-$300K per year, but he also has many tax write-offs so he shows a much smaller yearly income on his tax returns. His dilemma is he is trying to buy a primary residence in Idaho for about $600K but can’t qualify for that large of a bank loan unless he shows about $180K of income in 2022. He made more money than that, but it would be a large tax hit for him because he would have to pay all the extra tax on that income instead of using his write-offs. I’m trying to help him find a creative loan solution to keep him from having to show all that income and pay all those taxes, yet still get a loan. He is desiring to buy a house in the next 30-60 days. Any thoughts?