Posted on: 17th Mar, 2010 06:58 am
Arlington Virginia purchase
625k purchase price
240k down payment
contract is ratified
April 15 2010 closing
800 credit score
no debt
self employed
Thanks!
625k purchase price
240k down payment
contract is ratified
April 15 2010 closing
800 credit score
no debt
self employed
Thanks!
Hi Nelson,
You are making a good amount of down payment on the loan. It's more than 30% of the purchase price. Your credit score is also excellent. The fact that you do not have any debt will also work in your favor while the DTI ratio would be calculated. However, you need to be self-employed for at least 2 years to qualify for a stated income loan. There are lenders in this community. You may go for a no-obligation free mortgage consultation with them and check out if they can offer you a stated income loan.
You are making a good amount of down payment on the loan. It's more than 30% of the purchase price. Your credit score is also excellent. The fact that you do not have any debt will also work in your favor while the DTI ratio would be calculated. However, you need to be self-employed for at least 2 years to qualify for a stated income loan. There are lenders in this community. You may go for a no-obligation free mortgage consultation with them and check out if they can offer you a stated income loan.
Did you find a home for you loan yet? If not, you might want to check Hudson City. I don't know if they have a retail outfit but, I know they still offer Stated Income loans for self employed borrowers. We have 2 with them right now.
but hudson city won't lend in virginia, ted.
