Glenn Daly of RPM Mortgage answers the question on FICO Scores and Credit Applications.
He also has good news for those of you who are self-employed and trying to get secure a loan.
It is Better Living in Long Beach!
Michele K 562-243-2171
BRE 01884449 - Coldwell Banker Coastal Alliance
I knew the multiple pulls in same category didn't ding the credit, but had no idea one year's tax return would be all that's needed for self employed. My last loan was a no doc.... but that was a while ago.
I have two questions that need clarification:
1. The one year tax return requirement: I assume the last year tax return and not any tax return during the last 5 years. Right?
2. Any Real Estate Agent that are in business for 5 years are eligible? OR they must have registered their business name with TAX ID and other requirements with state, etc.?
Yes--I needed to know this! It will be beneficial as I counsel my clients. Thanks for sharing.
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