06-24-2008 05:39 PM
Our FICO is 791, we have 10% down, and our monthly income is good. But, we have a great accountant and we write off what we can, legally.
Does anyone have loan officer recommendations? If you'd rather reply via email please send a message to firstname.lastname@example.org
06-28-2008 02:11 PM
I'd be interested if you find a great loan officer.
07-23-2008 01:24 PM
If you have not been completely bombarded by lenders, I would like to offer a little advice. The last 6 months have been unlike anything anyone has ever seen in the mortgage industry. It’s not so much that one does not specialize in self employed borrowers as it is availability of loan products that allow for minimal documentation. I do still have a few sources for that type of scenario if you still need help.
If I can be of service, please let me know!
07-24-2008 11:11 PM
Even so, it isn't a matter of providing limited documentation. We have tax documents, pay stubs and check receipts fully documenting how much we say we've made over the last two-plus years. It's just the technicality of not being the owner of the company for two years. I suppose that a couple years ago, lenders might have been willing to look the other way.
Basically, what it means for us is being approved for a loan, but for much lower amount than even the lender agrees we could afford based on our current income and debt. But because we're in July and not November.
I get it, but it's just frustrating.