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Will I be able to get a mortgage based on social security, personal annuity, and IRA distributions. Will they accept those as income at that point.
Ive been advised they wont and Ill need to get mortgage and buy home prior to leaving ft work. 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. Indian bank personal loan interest planing to purchase a second apartmentI own a business 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.
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