As many lenders out there are eliminating loan programs for the self-employed customers/derive their income from mostly from commissions, theres still hope.
I still feel like if you maintained good credit these borrowers should still have a chance to get a simple, fast, competitively-priced home financing done.
You’ve built a good credit rating. Now you can reap the rewards with convenient, streamlined refinancing from the Wells Fargo Mortgage Express reduced-paperwork option.
Wells Fargo Mortgage Express offers:
- Convenience. There’s no need to hunt for tax returns, bank statements or pay stubs. Simply state your income and assets on your application.
- Speed. Your application won’t be delayed by paperwork, and we’re usually able to provide an immediate decision.
- Simplicity. You’ll be in your home faster with a reduced paperwork process.
- Flexibility. Use this option in combination with a wide range of fixed- and adjustable-rate mortgage products. The property can be either your primary residence, a vacation home, or an investment property. And you can also take cash out to pay for renovations, tuition, or just about anything else when refinancing your primary residence.
- Security. You’ll have the piece of mind knowing that your refinancing needs have been met.
- An Interest-only Payment Feature. Select products allow you to skip any principal payments in the first years of the loan. If your goal is to build home equity during the interest-only period, you can make voluntary principal payments in addition to the interest-only payments whenever you choose.
- 50% DTI ratios
- Primary residence, second home and investment property financing
Best for:
- Homeowners with good credit
- Self-employed and commissioned homeowners
;)
;)
