If you’re self employed, I think you’re also required to use “net” profits now as income. That makes it so you now may not qualify if you want to minimize your taxes in a given year…Want to contribute to your retirement? Maybe skip it a year to jack up your income to qualify for a refi…
HLS, are you seeing non x-corp business owners getting many mortgages/refi’s in the current environment?
I think it’s all like this because every bank is trying to sell the loan back to fannie/freddie. Since they set the rules, they do whatever they require. If banks held the loans like maybe 30 years ago, then the guidelines would be more varied I’d assume.
