Posted on: 23rd Feb, 2010 03:15 pm
Can I get a Homepath investor loan in Arizona if I am self employed (software consulting LLC with proven income and contracts)?
I have excellent credit, own my home, have a single home successful rental, etc, etc.
I have excellent credit, own my home, have a single home successful rental, etc, etc.
Hi aheckman!
Welcome to forums!
If you are an investor and planning to buy a Fannie Mae home which requires renovations, then you will be able to get a Homepath investor loan. You will have to speak to the Arizona based lenders who offer such type of loans. Also, you may seek a no obligation free mortgage consultation from the lenders of this community and get to know whether or not you would qualify for such a loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you are an investor and planning to buy a Fannie Mae home which requires renovations, then you will be able to get a Homepath investor loan. You will have to speak to the Arizona based lenders who offer such type of loans. Also, you may seek a no obligation free mortgage consultation from the lenders of this community and get to know whether or not you would qualify for such a loan.
Feel free to ask if you've further queries.
Sussane
Hi Aheckman,
It sounds like the main issue will be your AGI.
If you show enough income to support the new mortgage payment you should be fine.
The other thing that may help you is if you can document a history of receiving rental income on your tax returns. If you can, lenders will use the proposed rent to offset the new mortgage payment.
"http://www.fhamortgagesdoneright.com"
[Link deactivated as per forum rules. Thanks.]
It sounds like the main issue will be your AGI.
If you show enough income to support the new mortgage payment you should be fine.
The other thing that may help you is if you can document a history of receiving rental income on your tax returns. If you can, lenders will use the proposed rent to offset the new mortgage payment.
"http://www.fhamortgagesdoneright.com"
[Link deactivated as per forum rules. Thanks.]