3,349,229
Bad or low credit scores, lack of income, massive debt, tax liens, the list goes on and on ... and working with an inexperienced lender.
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Corey Christiansen
Saint George, UT
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Nina Hollander, Broker
Charlotte, NC
2,684,569
Low income, bad credit.
-
Debe Maxwell, CRS
Charlotte, NC
-
Corey Christiansen
Saint George, UT
-
Nina Hollander, Broker
Charlotte, NC
2,187,462
poor credit or no credit history, inconsistent work history, too much debt, etc. etc. etc.
-
Debe Maxwell, CRS
Charlotte, NC
-
Nina Hollander, Broker
Charlotte, NC
1,466,257
Corey Christiansen Being able to make the monthly payment.
-
Corey Christiansen
Saint George, UT
-
Nina Hollander, Broker
Charlotte, NC
4,319,773
Corey Christiansen - habits! Financial Habits I mean...
-
Gene Mundt, IL/WI Mort...
New Lenox, IL
5,253,385
Yep, not enough income and bad credit...as Fred Griffin said!
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Fred Griffin Florida R...
Tallahassee, FL
715,632
Low credit score, insufficient income, poor work history, lots of debt...
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Debe Maxwell, CRS
Charlotte, NC
6,416,259
Credit
income
debts
finding a good LO
-
Debe Maxwell, CRS
Charlotte, NC
1,728,056
5,772,575
Corey,
The best answers would come from a lender. A
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Debe Maxwell, CRS
Charlotte, NC
1,045,440
I am very very late to this post and all seems to have been solved/answered here :-) Happy Days!
5,877,179
55,673
It appears that the "Self-Employed" borrower is faced with many more obstacles than a W-2 applicant. The self employed usually takes much deductions in order to lower his tax burden. In doing so,lenders will look at the Adjusted Gross Income (AGI) on line 37 and "ADD Back" depreciation as well as some payments. The sad part is that many Loan Officers as well as operations people make many miss-calculations that hurt the self-employed borrower. Some cannot analyze the complex returns of the self-employed. I recently had to explain the tax returns to my underwriter who was in the process on declining a $1.4 million deal. In fact the Debt Ratios were 40% and the underwriter was at 67%. Then we have the normal credit,icome,FICO etc.
4,800,132
1,617,916
3,071,489
1,552,938
3,988,013
Having bad credit or no credit or not making enough money or having too much debt or no work history or no job. There are lots of difficulties.
3,986,308
1,505,863
2,784,416
Loan math is standard math. People have different scenarios that must be bounced off that math thus called qualification. Seek Loan officer input
4,272,934
I don't have to qualify for a loan however my clients are always advised to ask questions so that they can be well informed through the process.
1,712,776
5,111,821
7,862,342
921,504
The reality you have to pay for the things you want.
If we could just get around that.
That means history of reliable income and restrained debt.
Divorce, career change, litigation are all major difficulties.
1,525,616
There is a lot of paper work and documentation to locate and get to the lender.
5,237,958
5,583,328
5,060,238
353,865