Stated Income Mortgage For Realtors

Stated Income is a popular mortgage solution for self-employed realtors.

As a realtor you’re a pro – you help buyers purchase property and sellers make the most of their investment. Being a realtor is super rewarding, but with it comes a cost.

The money you invest in operating expenses to be a realtor offers you the great opportunity for tax deductions, but how can that affect your mortgage? Could a stated income mortgage help? 

Common Tax Deductions For Realtors

You’re busy hustling as a self-employed realtor. Every day you’re on the go, coming up with new inventive ways to advertise and get that property SOLD.
We get it!

Your operating costs add up, and it makes financial sense to make the most out of your tax deductions.

• Vehicle expenses
• Hiring someone for your social media, videos etc.
• Advertising expenses on busses, flyers
• Realtor licensing fees/continued education
• Taking your client to a special lunch to discuss their home ownership goals

 

A stated income mortgage allows you to continue making the most out of your well-earned deductions, while simultaneously recognizing a better version of your ‘true’ earnings.

How A Stated Income Mortgage Works

A stated income mortgage is a great mortgage solution for self-employed borrowers or business owners (such as realtors!)

With a stated income mortgage, how you ‘show’ your income is mainly relied upon based off your financial statements, and often a ‘declaration form’.

Stated income mortgages often require more simple documentation than traditional mortgages, although you still must meet lender qualifying factors.

Realtors Making The Most Out Of Their Mortgage

Many realtors enjoy fantastic value in the stated income mortgage as it allows them to operate their business expenses efficiently, while maximizing their purchasing power/adding flexibility to their mortgage.

Take a peek at our stated income page for more information about the program!