“Starting a Business and Getting a Mortgage can be a Problem”

“Starting a Business and Getting a Mortgage can be a Problem”

 

 

 

 

Hi Joe,

I have a question for you. I don’t want to mess up my pre-qualification, so I’m coming to you first. I plan to start my own business but am aware that I need to keep my present job until I close on a house. Can I start any part of the process, like getting an EIN or should I wait on everything? I don’t want to mess up anything about my dream of getting my farm so I won’t do a thing until you tell me it’s okay. I have no intention of leaving the present job right now. I’m just wondering if I can get started setting up parts of my own business that will take time to process. 

Thank you.

 

 

This client is so wise to ask all these questions in advance before making the wrong decision. It is definitely the right decision to keep the W2 income job until after a mortgage is applied for, as you need two years of tax returns otherwise.

 

Subscribe to my blog via Email:

 

Enter your email address:

Delivered by FeedBurner

 

Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

Like me on facebookfollow me on twitterConnect with me on linkedin

Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 4 commentsJoe Petrowsky • September 18 2020 12:54PM
“Starting a Business and Getting a Mortgage can be a Problem”
share
“Starting a Business and Getting a Mortgage can be a Problem” Hi Joe, I have a question for you. I don’t want to mess up my pre-qualification, so I’m coming to you first. I plan to start my own business but am aware that I need to keep my… more
“Buying a Second Property”
share
“Buying a Second Property” Hey Joe, I will wait a few months but then I want to start brainstorming ideas on how to get a second property lol. I will need your help once again. Mind boggling to me, my mortgage payment is $1756 a month and my… more
“Talking Monkey”
share
“Talking Monkey” A police officer came upon a terrible wreck where the driver and passenger had been killed. As he looked upon the wreckage a little monkey came out of the brush and hopped around the crashed car. The officer looked down at… more
“Many Families Moving in Together”
share
“Many Families Moving in Together” Another change of plans Joe, As you know we have been home searching for the last couple of months. We were with my parents over the weekend that live in NY and we’ve made the decision to find a home that is… more
“Couldn’t Say it Better Myself”
share
“Couldn’t Say it Better Myself” The CEO of a lender is called up for a CFPB exam. He's really flustered and goes to his compliance VP for advice. "Make sure you dress up like a guy who is on the edge of losing money. It will convince… more
“We Did It! ”
share
“We Did It! ” We did it! Hard to believe after two years of 5 of us living in a two bedroom condo and over the last few months both of us working from home and three kids being home schooled. Pretty crazy going from a small two bedroom condo to… more
“Facebook and LinkedIn doing Good Work”
share
“Facebook and LinkedIn doing Good Work” Mr. Petrowsky, I got your name and contact information from two different people. I am part of a Facebook group in my town. I shared that I was considering refinancing and got two responses, both of… more
The arrival of China's Vice Premier He
share
The arrival of China's Vice Premier He in Washington over the weekend for the trade deal signing prompted Robbie C. to send over this play by play at the Phase One signing Costello: Do you know the fellows' names? The signers? Abbott: Well,… more
“Difficult, but Important Decisions Required”
share
“Difficult, but Important Decisions Required” Hi Joe, Hope this email finds you well. We are in the process of making some very hard decisions regarding our business. The bottom line we may be closing, but prior we want to get our refinance… more
“If Credit Scores are an Issue, Call Me”
share
“If Credit Scores are an Issue, Call Me” Mr. Petrowsky, Your name was given to me by XXXXXXX Bank. They said they felt bad for us, as we were all approved and just waiting for our closing which was supposed to be next week. They called us… more