How Self-Employed Denver Homebuyers Can Get a Mortgage

Written by Posted On Friday, 22 April 2016 18:10

As a self-employed business person, you already know the ups and downs of being in business. You love the control and the flexibility, but may worry about generating a steady stream of income. It turns out that banks also worry about that income stream when it comes to considering you for a Denver mortgage.

Fortunately, there are several steps you can take to help achieve your dream of owning a Denver home if you are a Self-Employed Denver Homebuyers.


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  • Think ahead when filing your tax returns. In the current environment, banks want to look at your average income based on two years of income tax returns. Although it might help lower your tax liability to deduct all of your business expenses, don't make your net income so low that you don't qualify for a mortgage.


  • Watch your credit score. It might be tempting to charge lots of new equipment on your credit card, but you could be harming your credit score and your ability to qualify for a mortgage if you aren't paying on time. If you must buy business related items, try to wait until after you've closed on your mortgage.


  • Build your bank account. It's expensive running a business and paying a mortgage. Lenders want to know you have a solid cash foundation to cover all of your expenses. Plus, you'll need to have money available for a sizable down payment and closing expenses.


  • Have your paperwork in order. When you work for somebody else, you have to provide W-2’s as proof of income. When you work for yourself, it gets trickier. You'll need to sign a Form 4506 which allows lenders to request your tax forms directly from the IRS and you may also need to furnish a current profit and loss statement. You could be asked for a list of clients or other sources of cash flow. Find out what the lender is going to require from you as a business owner, and then have that paperwork ready when you request a good faith estimate.


  • Meet your prospective lender in person. When you run your own business, your time is one of your most valuable assets. But take some time out of your busy schedule to invest in yourself, and meet personally with a mortgage broker or prospective lender. You can discuss all aspects of your business, answer any questions directly, and consider options that might be more effective for you because you've sat down and discussed your unique situation in-depth with a professional.


If you're a self-employed business person who is ready to buy a Denver home, our team of real estate experts at Bandy Homes can answer your questions and show you some terrific homes in Aurorareal estate in Castle Rock, including homes in Castle Pines and a wide variety of affordable homes in Littleton.

Curious about the value of your Denver homeClick here for a quick estimated home value.

Our trusted professionals will be there to help you every step of the way!



Until next time,

Marianne Bandy, Team Leader

The Bandy Team

 Keller Williams Park Meadows





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Marianne Bandy

Marianne is a professional LDS Realtor in Denver with outstanding integrity, who takes the time to understand your specific housing and family needs. She is the team leader of one of the top selling Real Estate Teams in her broker's office. She understands that a big part of your family's happiness depends on the home and community where you live.  LDS Realtor in Denver Colorado

One of Marianne’s greatest passions is helping people with their Real Estate transactions, typically one of the largest financial transactions they will undertake. Marianne is the listing agent for the team but also loves working with Latter Day Saint home buyers as well.  Marianne uses her expertise and market knowledge so that her clients get the most accurate and up to date information possible. Marianne has a breadth of experience working with clients through all aspects of closing on a home. When listing homes for sale, this includes readying the home for sale, developing a marketing strategy, getting feedback on showings, negotiating inspection items,  and many other details that lead up to a successful closing. 

Marianne is excellent at contract negotiations and looking out for the best interests of her clients. She has obtained the Certified Negotiation Expert (CNE) certification. When helping Buyers, she loves the feeling of helping families connect with the right home in the right community. She also has knowledge of ward and stake boundaries, meeting house locations,  youth programs, drive time to the LDS Denver temple, and seminary locations for your high school children. 

If you’re looking for solid results and a WOW! experience, then call Marianne and put her to work for you. In the last two years, the Bandy Team sold 125 homes.  The Bandy Team has the experience and proven systems you need to make your transaction as smooth and worry-free as possible. 

The Bandy Team is committed to conducting business with the utmost integrity. The team was formed on the principles of honesty and loyalty with clients. Marianne believes in surrounding herself with good people that share her values.  This includes good business partners that can aid in all aspects of a real estate transaction, including home inspections, loans, transaction coordination, home repairs, etc. Marianne and her entire team are committed to the highest levels of customer service for their clients. 

Who you work with Matters!  

LDS Real Estate Agent in Denver Colorado

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