[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”0px||1px|||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”|auto||2px||” custom_padding=”0px|||||” global_colors_info=”{}” theme_builder_area=”post_content”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||” theme_builder_area=”post_content”][et_pb_text _builder_version=”4.23.4″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” custom_margin=”|-126px|35px|||” global_colors_info=”{}” theme_builder_area=”post_content”]<\/p>\n
Are you a self-employed borrower in Georgia looking to secure a mortgage? We have some great news for you! FHA (Federal Housing Administration) allows more line items to be added back when filing a Schedule C, giving you the opportunity to maximize your income.<\/span><\/p>\n One of the key areas where\u00a0FHA\u00a0provides flexibility is in the business use of home expenses. Unlike conventional loans, FHA allows you to add back mortgage interest, mortgage insurance premiums, and property taxes to your income. This means that you can include these expenses as part of your overall income calculation, potentially increasing your borrowing power.<\/span><\/p>\n Another area where FHA differs from conventional loans is in the treatment of meals and entertainment expenses. With conventional loans, these expenses are typically deducted from the income. However, with FHA, they do not get deducted, allowing you to retain more of your income and potentially qualify for a higher loan amount.<\/span><\/p>\n When it comes to documentation requirements, FHA offers two options. You can either provide an audited profit and loss statement along with just one month of business bank statements. Alternatively, you can provide an unaudited profit and loss statement along with two months of business bank statements that support the statement and your previous year’s income filing.<\/span><\/p>\n It’s important to note that these guidelines are specific to FHA loans and may vary for other loan types. However, if you’re a\u00a0self-employed\u00a0borrower in Georgia, FHA can be a great option to consider. With its flexible income calculation and documentation requirements, it can help you achieve your dream of homeownership.<\/span><\/p>\n At\u00a0GeorgiaMortgage.com, we understand the unique needs of self-employed borrowers in Georgia. Our team of experts is here to guide you through the mortgage process and help you find the best loan options tailored to your specific situation. Whether you’re a seasoned business owner or just starting out, we have the knowledge and experience to assist you every step of the way.<\/span><\/p>\n So, if you’re ready to take the next step towards homeownership in Georgia, contact us today. Our friendly team is here to answer all your questions and provide you with the personalized service you deserve. Let us help you turn your dream of owning a home in Georgia into a reality!<\/span><\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/nysck.com\/georgiamortgage.com\/quote\/” button_text=”Fast Quote” button_alignment=”center” _builder_version=”4.23.4″ _module_preset=”default” custom_margin=”|||135px||” hover_enabled=”0″ global_colors_info=”{}” theme_builder_area=”post_content” disabled_on=”on|on|on” disabled=”on” sticky_enabled=”0″][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Are you a self-employed borrower in Georgia looking to secure a mortgage? We have some great news for you! FHA (Federal Housing Administration) allows more line items to be added back when filing a Schedule C, giving you the opportunity to maximize your income. One of the key areas where\u00a0FHA\u00a0provides flexibility is in the business […]<\/p>\n","protected":false},"author":2,"featured_media":1483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":" Are you a self-employed borrower in Georgia looking to secure a mortgage? We have some great news for you! FHA (Federal Housing Administration) allows more line items to be added back when filing a Schedule C, giving you the opportunity to maximize your income.<\/p> One of the key areas where\u00a0FHA\u00a0provides flexibility is in the business use of home expenses. Unlike conventional loans, FHA allows you to add back mortgage interest, mortgage insurance premiums, and property taxes to your income. This means that you can include these expenses as part of your overall income calculation, potentially increasing your borrowing power.<\/p> Another area where FHA differs from conventional loans is in the treatment of meals and entertainment expenses. With conventional loans, these expenses are typically deducted from the income. However, with FHA, they do not get deducted, allowing you to retain more of your income and potentially qualify for a higher loan amount.<\/p> When it comes to documentation requirements, FHA offers two options. You can either provide an audited profit and loss statement along with just one month of business bank statements. Alternatively, you can provide an unaudited profit and loss statement along with two months of business bank statements that support the statement and your previous year's income filing.<\/p> It's important to note that these guidelines are specific to FHA loans and may vary for other loan types. However, if you're a\u00a0self-employed\u00a0borrower in Georgia, FHA can be a great option to consider. With its flexible income calculation and documentation requirements, it can help you achieve your dream of homeownership.<\/p> At\u00a0GeorgiaMortgage.com, we understand the unique needs of self-employed borrowers in Georgia. Our team of experts is here to guide you through the mortgage process and help you find the best loan options tailored to your specific situation. Whether you're a seasoned business owner or just starting out, we have the knowledge and experience to assist you every step of the way.<\/p> So, if you're ready to take the next step towards homeownership in Georgia, contact us today. Our friendly team is here to answer all your questions and provide you with the personalized service you deserve. Let us help you turn your dream of owning a home in Georgia into a reality!<\/p>","_et_gb_content_width":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-1482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/posts\/1482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/comments?post=1482"}],"version-history":[{"count":5,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/posts\/1482\/revisions"}],"predecessor-version":[{"id":1681,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/posts\/1482\/revisions\/1681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/media\/1483"}],"wp:attachment":[{"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/media?parent=1482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/categories?post=1482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nysck.com\/georgiamortgage.com\/wp-json\/wp\/v2\/tags?post=1482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}