))
Needing only 1 year's return for the self-employed for the last 5 years for a Conventional Mortgage
Manage episode 421190845 series 2979320
Content provided by Didier Malagies. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Didier Malagies or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
I learned a hard lesson on a loan last year, I had a borrower who was self-employed for the last 2 years but another company was self-employed for 3 years. I took that loan as a non-QM with a higher rate. The borrower had another broker run it and required only 1 year's return and he qualified which lost me the deal. He would not have qualified for the 2 year's returns. A hard lesson learned and always to have the loan run to see if you get just one year's return.
Having one Year's return makes it less complicated less documentation and fewer questions
Simplification is the best route to take and exploring all options
tune in and learn https://www.ddamortgage.com/blog
didier malagies nmls#212566
dda mortgage nmls#324329
271 episodes
Share
