California Mortgage Blog

There are many borrowers that can't qualify with traditional qualifying income and debt ratios.  What are they to do?

We have a great loan product that allows a borrower to state the income on the loan application.  This is a great product for those self employed people that write off everything on there taxes.  Many times you can be a W2 employee or retired on fix income for these types of programs-check with your lender. 

These loans are not only great for refinances but also when trying to a little larger priced home then what you would normally qualify under a traditional mortgage loan. 

The income stated does have to make sense in the eyes of the underwriter and borrower usually needs to proof they have either been employed in the same profession for the last two years.  Self Employed borrowers will have to show proof of a business license or maybe a 411 listed CPA-licensed tax preparer letter stating with no disclosure of income that they have been filing self employed tax returns for over two years.  Some times it is possible to use other documentation also.  Your lender will be able to supply a list of items that you will need to gather to present to the underwriter.

We are mortgage experts for these types.  Apply here for your Low Rate California Mortgages-Home Loans or Call us Today!

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