Getting a bank loan with adsense

Has anyone ever tried this before?

[I Will Make It]

I'm not saying it's a smart thing to do.. loaning money in the bank depending on adsense. But will the bank accept it, if you can document earnings from adsense every month, say a couple of $1000.

Does anyone know? Has anyone tried?

[Moosetick]

Most banks like to see 2-3 years of income from a source. If you can show that you have made $#*$! from adsense or other online advertising over the past 2-3 years then they may be likely to give you an unsecured loan.

If you have a site that has only been around for 6 months and only earned a few $100 each month then you would be unlikely to get a loan.

[BigDave]

I haven't tried it, but I would suppose that it would be handled the same way that they handle any independent source of income.

For example, if you do a lot of freelance work, instead of having a "real job" they don't care what you earn during a given month, they want you to show your income tqax records for the last 3 years.

They will look at the average income, and it is good to show that it is consistant or growing. You will probably pay more than someone with a safer source of income.

[jetteroheller]

Does anyone know? Has anyone tried?

I tried, but had no success with it.

[ann]

Big Dave nailed it..

Ann

[greedy player]

with no income what so ever i managed to get over 14,000$ loan. In UK.

And tried again for 7,000$ but was declined and told that the original 14,000$ was not actualy possible but happened for some reason unknown. :)

[21_blue]

I've obtained finance on the basis of income including projected Adsense revenue. What matters with the bank manager is not the reliability of the income, it's your credibility - ie: how good you are at planning/managing risk and whether you are on top of your finances.

[creepychris]

I got my mortgage approved based on Adsense income.

[greedy player]

a mortgage! how many years? what country?

[surfer67]

Bank does not care how you earn it. They want to know how much you're earning. They also check your credit rating. If you're credit rating is good, you should be able to get the loan.

[dollarshort]

A mortgage or second mortgage may be easier because if you default they get the house!

[G_Smitty]

I have financed a truck, car, furniture, computers and many other items using adsense earnings as my primary income. As long as your credit is good they don't even verify your income. Most of the time I buy on 90 days same as cash. I don't like the interest for long term financing. Most of the time I will finance something at the beginning or middle of the month and pay it off when I receive my monthly check. This gives me a great credit rating.

[creepychris]

I also had a pretty hefty down payment (again thanks to Adsense). That helps minimize the risk, which in turn makes accepting Adsense on the application a lot easier.

[PalX]

Living in Lebanon means I don’t pay any taxes from my Adsense income, but in the same time it means I can’t get any loans, the last time my Banker asked me what do I do for living and I answered I work from home and make money from Adsense, he was like “uhhhhh ad who? ad what? :D

[I Will Make It]

Nice to hear about you guys who have tried this out, and that some banks may actually consider loans or mortgages depending on an adsense account.

I'm looking around for a cozy small house these days, and I was wondering if I should mention my adsense account to the bank..

I think I'll wait till my earnings are bigger :)

But thanks so far for all the replies!

[dollarshort]

If you put down 40% or more you can get a no income verification loan.

[danny]

I recently talked to a bank manager about a home loan, and he didn't seem worried by the fact that 35% of my income was coming from my web site. He wanted to see three years records of income (including tax returns) and I only had two, but that wasn't a sticking point.

I'm planning on being conservative about how much I borrow, though, given the risks of web site income.