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Mortgages?!?!?!? Options
Jessica-51860
Posted: Wednesday, June 7, 2017 6:35:25 PM

Rank: Advanced Member
Groups: Member

Joined: 3/23/2015
Posts: 73
Okay, long story short, my fiance and I have been trying to buy a house for 2 1/2 months now. We managed to get pre-approved and after making offers on 6 different houses we finally managed to get one under contract. I've been working with a lender this whole time who was confident that they would accept my Zerys income, which is highly important because it's my primary income. I've been writing here for over 2 years, and I have reported it all on taxes and whatnot. 

Now that we're getting ready to close, they decided that they need more proof of employment. The options they have given me are to get a letter directly from Zerys stating that I'm employed, but since I'm not an employee of Zerys I don't think that works. 

They have also suggested that I go out and get a business license for my work here, and then hire a CPA to prepare a Profit and Loss statement for my business, which I suppose I could do, but it would cost me a bunch of money and would possibly subject me to different taxes at the end of the year. 

Just curious if any of you guys have been through this with a lender and what did you use to prove that you actually work?! I'm ready to pull my hair out. 
Nancy M-49020
Posted: Monday, June 26, 2017 11:03:12 PM

Rank: Advanced Member
Groups: Member

Joined: 1/7/2015
Posts: 70
Location: Los Angeles
In the past I have set up a dba or LLC on my own. Other times I used an attorney. You don't need a CPA to do a profit & loss statement for your business. There are plenty of examples online on how to do one. They're one page. If you claimed the income on your tax returns, you might attach the first pages of your return to the P&L. Many CPAs and attorneys will give you a 30-min free consultation. Don't know where you live, but there are also co-ops for artists where you can get relatively inexpensive advice. Good luck!

Another thought: you could take a screen shot of the Zerys page that shows your earnings.
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