Yeah I'm just starting out. 24 years old, 2 years out of college, and so close to purchasing first home. I have to gather all my proof and the UW will send to management for approval. Please wish me luck!...

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re: USDA Loan - Business Loss reported on prior Tax Return. Help!

Posted by sdedwar2 on 4/7/16 at 8:49 am

Guys I thank you for the personal advice but not needed at this time. I can defenitely afford the house as my monthy mortgage payments with insurance included would be actually cheaper than apartments renting in my area. As I budget my monthly expenses each month, note I have never had a late paymen...

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re: USDA Loan - Business Loss reported on prior Tax Return. Help!

Posted by sdedwar2 on 4/7/16 at 8:07 am

It seems that the mortgage underwriter wants to subtract the $6k loss from my tax return income (before sending loan to USDA I suppose) which reduces my AGI on 2015 taxes. I'm just making sure that this will not actually happen. I should hear back sometime today hopefully. I did call a local USDA r...

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USDA Loan - Business Loss reported on prior Tax Return. Help!

Posted by sdedwar2 on 4/6/16 at 11:37 pm

I really need some help here. I'm in the mortgage process and scheduled to close on a home at the end of this month; however, I have one issue. I have a salaried W-2 job that qualifies me for the mortgage; however, I had a small lawn business (on the side) that I started and dissolved last year wher...

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