Posted on: 30th Mar, 2009 05:22 pm
Hi, we're trying to purchase a mid-rise condo and we just got turned down by Chase. The borrower is a day trader and the only income he generates is capital gains and the tax returns from the past 2 years say so.
Does anyone have ideas on which lender will take a borrower with capital gains income? I heard recently that Wells Fargo might? The borrower's down payment, credit score, DTI all meet/exceed conventional loan guidelines.
Thank you.
Does anyone have ideas on which lender will take a borrower with capital gains income? I heard recently that Wells Fargo might? The borrower's down payment, credit score, DTI all meet/exceed conventional loan guidelines.
Thank you.
It sounds like you may need a stated income product.
Eric, do you do stated income loans? I sent you an email this evening titled "please review my loan scenario" many thanks.
