Posted on: 03rd Apr, 2010 12:11 pm
We are having trouble getting approved because lenders think self-employment income is too high. We have had a drastic increase to income in the last year. They are skeptical to loan, anyone know a company that works well with self-employed?
guest, if you are located in certain areas, you can obtain a stated income loan if you have 30% down payment. that might solve your problem.
as for lenders who work well with self employed borrowers, i believe it's more a matter of interpretation. how drastic is the increase from one year to the next? if it's that large, it'll make most lenders skeptical, i believe.
as for lenders who work well with self employed borrowers, i believe it's more a matter of interpretation. how drastic is the increase from one year to the next? if it's that large, it'll make most lenders skeptical, i believe.