Issues with Day Traders qualifying for a Mortgage

Discussion in 'Professional Trading' started by NERVESASTEEL, Mar 14, 2009.

  1. See, I can do that and show over 200K annually for the past 2-3 yrs. But it's all capital gains. Also, my balance sheet is great! I can put down 25% on a 1.5M apartment without touching my bank. Maybe if I tell them I'm an 'Investor' that would be enough?

    Still like the LLC idea, but I guess that would take 2 - 3 years before it has the appearance of a proper business 'front'.
     
    #31     Mar 16, 2009
  2. cstfx

    cstfx

    #32     Mar 16, 2009
  3. Yeah, thanks!

    Regarding Item 1, if I have to put more down than 25% on 1.5M, then I'm drawing down on my bank. It's really a psychological issue since I'll be replenishing my savings with those funds. Personally, I need a lot of cash to retain a comfort zone when trading.

    Regarding items 1 & 2, as stated earlier, I think Sellers will be highly motivated so I hope both ideas are possible!
    :)
     
    #33     Mar 16, 2009
  4. JORGE

    JORGE

    Stupidest thing ever, but changing my occupation from trader to investor actually helped, even though I have never held anything longer than a week. I also had to write a letter to the lender explaining what I do.
     
    #34     Mar 16, 2009