Uber/Lyft drivers love taking advantage of what the stated income mortgage for business owners has to offer!
Being an Uber or Lyft driver can boast great flexibility for scheduling your own hours and being your own boss, but it can also be costly.
There are many operating expenses associated with being an Uber or Lyft driver, many of which get deducted from your tax returns as a self-employed individual.
Making the most out of your deductions shouldn’t harm your chances of receiving an optimal mortgage – with the help of a stated income mortgage, Uber and Lyft drivers can secure a fantastic mortgage solution.
It ain’t easy being on the road all day long, but you make it work!
As a self-employed Uber or Lyft driver, you bare the brunt of certain expenses to run your business (which can later be deducted in your taxes).
It’s likely that you write-off your:
Writing off these expenses shouldn’t have to negatively impact your purchasing power or chances of securing a mortgage.
With a stated income mortgage, your income can be assessed in a different way by taking into consideration other 'proveable' avenues of income (such as your business financial statements), painting a more accurate picture of your true income as an Uber or Lyft driver.
Your stated income mortgage awaits.
A stated income mortgage is the mortgage for self-employed Uber and Lyft drivers. It helps small business owners maximize their mortgage potential, while recognizing their tax deductions.
The stated income mortgage is a win-win for many self-employed individuals.
To learn more about the ins-and-outs of a stated income mortgage, check out our ‘stated income’ page!