job vs business?

Question

hey guys just have a question 100k job or my own business that will bring in 150k. what are your guys thoughts on what would be best to get a mortgage.

Alecia Loveless · Answer

@Jake Warren I believe it depends on what type of business you have as to how easy it is to qualify for mortgages and it may require 2 years of tax returns. I believe commission based work is harder to qualify with but something like lawyer or doctor or electrician is easier. Seasonal type things may be harder too.

Mason Weiss · Answer

Forget the mortgage, your own business that will bring in $150K is worth pursuing over a job. My guess is you can likely grow that business to bring in even more annually. Sure conventional loans favor W2 jobs, but when you are pursuing financial freedom, owning and growing your business is more valuable than obtaining a mortgage right now.

Michael Smythe · Answer

Don't think either are going to qualify you to purchase a house in an expensive market like Toronto, without a significant down payment.

job vs business?

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