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Thanks so much!. Cant comment on the tax implications, but you should make sure the business assets can be used for the mortgage.
Might have to prove that either you have full access to the funds and that their removal wont affect the business negatively. Im planing to purchase a second apartmentI own a money loans nj I have 100K in my business account I like to use that for the down payment which is around 55k I dont have enough money in my personal account for the down payment I only take out what I need to pay my living expenses, so I need to make a payment to my personal account for the down payment before the purchase is that correct if I wanna use the money from the business, but that money I take out I will need to pay income tax correct.
Same as I pay on my monthly salary. Thank you for your advice!. If it is indeed counted and the DTI is exceeded, you ace cash advance augusta georgia ask for an exception or play around with the numbers (down payment, etc. ) to get the DTI back into range. Hi Colin, Im in the middle of the mortgage process with one of the nations largest lenders and am trying to purchase my dream home (for a wonderful price and as a new primary residence) ace cash advance augusta georgia selling my current home.
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