Buying a home when you own a business requires careful planning and documentation. Moneko helps entrepreneurs prepare their financials to meet lender requirements and successfully secure a mortgage.
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Smart categories based on entrepreneurs spending patterns and home buying objectives.
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Specialized tracking tools designed specifically for home buying with milestone celebrations.
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Get answers to common questions about budgeting for entrepreneurs.
This is a common challenge. You may need to be less aggressive with deductions for the two years leading up to your mortgage application to show a higher net income. Some lenders also have special programs that allow them to 'add back' certain write-offs like depreciation.
It's generally better to move the money to your personal account and let it 'season' for a few months (at least 60 days). Lenders need to see a clear paper trail and verify the source of funds is legitimate and not a loan.
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