bank loan dilemna

[andrewtanjk]

I have a question if anyone can help me.

For someone who does not have job, but have income from investments.
How can they structure in such a way to be able to show income to the bank that will get mortgage loan approved.

I was thinking of maybe it's possible to register a company and pay myself.
Anyone done this before? Any suggestions would be great. Thanks

 

[mikezuper]

Pay 50% deposit can.

 

[andrewtanjk]

Pay 50% deposit can.

Thanks, but if no cash to deposit then how?
I want to know how to structure an income to myself. Ie pay myself to show income to bank.

 

[mikezuper]

Thanks, but if no cash to deposit then how?
I want to know how to structure an income to myself. Ie pay myself to show income to bank.

That will not work as income from investment might not be viewed as stable income by the bank as you can take it out or subject to market condition.

 

[wahkao3]

loan from bank????

 

[joanie_dan]

Maybe if your investment I.e. Equity bond portfolio etc have hundreds of thousands in market value, maybe they might consider taking 30% or lesser of it as a methodology of calculation? Not too sure about what's e most current regulation already. Setting up company and pay yourself probably viable 3yrs later, where u declare income tax consecutively for these 3 yrs. if u need the mortgage loan now, why not just speak to a mortgage banker directly?

 

[focus1974]

I have a question if anyone can help me.

For someone who does not have job, but have income from investments.
How can they structure in such a way to be able to show income to the bank that will get mortgage loan approved.

I was thinking of maybe it's possible to register a company and pay myself.
Anyone done this before? Any suggestions would be great. Thanks

Last time ... you can put $100 or 200k into a bank account and then the mortgage specialist will do magic for u.

then theres the equity loan from the house(s) you owned which has capital gains.. but again.. i donno how TDSR and MSR Will affect that... basd on your situation (r u 35yrs old? r u 50yrs old etc etc).

then ..there's also u get a line of credit from bank to buy a house based on your assets under management.. but.. again.. this one i donno whether they still dare to.. this was very prevalent during 2009 and 2010

COz different people got different scenario and cannot be advised correctly.

I Think you post here is quite pointless.. U should just contact a mortgage broker and explore the scenario with them.

Then you come back here to share with us..


PLease do come back and share with us! Sharing is CAring!

 

[Shiny Things]

I have a question if anyone can help me.

For someone who does not have job, but have income from investments.
How can they structure in such a way to be able to show income to the bank that will get mortgage loan approved.

I was thinking of maybe it's possible to register a company and pay myself.
Anyone done this before? Any suggestions would be great. Thanks

If you're talking about stocks and bonds, you can offer to custody them at the bank; they shouldn't have a problem doing this for you, and it'll give them a bit more confidence that you can actually repay the loan.

If you're talking about alternative investments - VC, hedge funds, that sort of thing - then it's trickier, and I don't really have any good suggestions unfortunately; the bank wants to see a steady stream of income so they know you can service the loan, and I'm not sure how you'd prove that to them.

 

[jtec14]

pledge your unencumbered assets, like deposits, stocks, bonds acceptable to the bank, they will calculate your income stream from there. Usually consider 30%-70% of the asset values

 

[henrylbh]

I have a question if anyone can help me.

For someone who does not have job, but have income from investments.
How can they structure in such a way to be able to show income to the bank that will get mortgage loan approved.

I was thinking of maybe it's possible to register a company and pay myself.
Anyone done this before? Any suggestions would be great. Thanks

How substantial is your investment income and how large is your investment. If not, forget about any idea.