Mortgage Help needed

[Vaampire]

12 minutes ago, pittagoda said:

Problem is we both work on 1099 misc. And there is a company for my wife.  Bofa wants company p and l. Too much hassle. 

Secondly I took less money on my name in taxes since I took the rest as company expense.  

Meaning 160k lo 60k in tax returns on my name and 100k in company as company expense.. 

I have a new offer letter for 175k but bank might not consider that since the job did not start yet..

Interesting... No idea

[LadiesTailor]

15 minutes ago, pittagoda said:

Problem is we both work on 1099 misc. And there is a company for my wife.  Bofa wants company p and l. Too much hassle. 

Secondly I took less money on my name in taxes since I took the rest as company expense.  

Meaning 160k lo 60k in tax returns on my name and 100k in company as company expense.. 

I have a new offer letter for 175k but bank might not consider that since the job did not start yet..

Needi konchem complicate vundi... google cheyyu baa local desi agents kosam... or radio lo adds vastayu kada... local vallu ayuyhe konchem patient ga chesi pedatharu... and yeah you need to provide lot of documents... 

[ForEverJava]

19 minutes ago, pittagoda said:

How much they give?  800k istara? I saw some 540k

I don't know dude check with them..it goes under jumbo loan..I took jumbo loan for 520k..

[pittagoda]

11 minutes ago, LadiesTailor said:

Needi konchem complicate vundi... google cheyyu baa local desi agents kosam... or radio lo adds vastayu kada... local vallu ayuyhe konchem patient ga chesi pedatharu... and yeah you need to provide lot of documents... 

Okay. Will look for local desi ones . 

[pittagoda]

7 minutes ago, ForEverJava said:

I don't know dude check with them..it goes under jumbo loan..I took jumbo loan for 520k..

Interest rate entha?

[salim]

1 hour ago, pittagoda said:

Jamaica, NY or Weehawken,  NJ lo looking for a house..

Where to get a pre-approval from? 

CS: Both 800+

Income: 1099 but 340k+

Can you please suggest? House value around 800,000k. 

340 K+ wife and husband both or one income. 

meeru baga dabbullu petti house lu kontaru work pressure lo sasataru. please meemu gofund me donate cheyadam manesam @Pappu_Packitmaar chepamanadu

[pittagoda]

2 minutes ago, salim said:

340 K+ wife and husband both or one income. 

meeru baga dabbullu petti house lu kontaru work pressure lo sasataru. please meemu gofund me donate cheyadam manesam @Pappu_Packitmaar chepamanadu

Both bhayya..   Tana medical field 9-5 job.. Just 20 patients chudali  everyday .. Nenu  IT chakiri  but hiring more people under me in 3 months so stress and tasks mitigate chesta  le.. 

[ForEverJava]

1 hour ago, pittagoda said:

Interest rate entha?

The time it took I got 3.3 for 30yr back in 2015 with dcu but over the time I got it down 2percent for 15yr refi with plain commerce bank

[pittagoda]

27 minutes ago, ForEverJava said:

The time it took I got 3.3 for 30yr back in 2015 with dcu but over the time I got it down 2percent for 15yr refi with plain commerce bank

Thanks

[bommali]

You're source of income seems to self-employed, because you and your wife are not getting any paycheck from an employer, is this correct?

If so then your likelihood of getting a conventional loan decreases. You may get a non qm at a higher interest rate because you are self-employed.

Also think of ways to reduce your loan amount to less than 765k (put money aside for down-payment), else you will pay more interest again since your loan will be classified as a Jumbo.