Agents…..

Do you have buyers who are Self employed?

The (past) problem for self employed borrowers..they had to average their income over 2 years to qualify for their future mortgage (vs. just using the most recent return).

Often what happens is a borrower has high start up costs in one year (i.e. 2009)….followed by hefty profit the next (i.e. 2010) …the losses in 2009 would then offset much of the gains for 2010 therefore lowering the ability to qualify.

Now:  The net income from the most recent (i.e. 2010) tax return can be used to solely to qualify for a mortgage.

Here are the basics:

Conventional Financing…Purchase or Refi …80% LTV (up to $729,750)

680+ FICO scores

Please call me to pre qualify your borrowers!

Daniel Dobbs
Sr. Mortgage Loan Officer
American Commerce Mortgage
4676 Lakeview Ave #212
Yorba Linda, Ca 92886
(just 1 block from the Nixon Library)
Cell: 949 250-3981 Fax (714) 970-9777
Dandobbs6@gmail.com
DRE # 00986886 …..NMLS# 307631