k wrote at 2013-02-22 12:13:54
Getting pre aproved and getting the loan are 2 diferent things. usually they like 2 years and they want your busness to Earn a profit clamed in its taxes for those 2 years or they may just preaprove you based on your income but when you go to sign a morgage after finding a home your loan will fall through. it is very hard to get a loan if you are a owner your employees have a better shot. this just happened to us my hubbie is an owner but the company only clamed a profit for one of the 2 years befor our atempt ( been in busness for 7) one we reinvested the profit into inventory because it was growing so fast. they Pre Aproved us for $500k, so we decided to buy a nice 3bed 2 bath for $140k that we could pay off in 5 years. we hadd $100k for a down payment. 2 weeks befor closing we where toled by the bank that we didnt qulify for the lone based on the busnesses taxes and we where concidered 2 high risk. Simmilar thig happened to my friend who owns an boar electronics company, they can only get a morgage based on his wifes income.
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I can answer any question that pertains to Real Estate Finance, both in Residential and commercial Real Estate. This includes questions on Financing the purchase of a new home, refinance, debt consolidation, 100% Financing Loans, FHA, VA, and pers/Sters Loans as well just to name a few.
I have over 10 Years in the Mortgage Lending Field, working as both a Banker, and now currently owning my own Mortgage Brokerage Firm. I specialize in working with Family Law Attorneys, Estate Attorneys, and First Time Home Buyers, although I don't limit myself, and welcome any kind of client in need of financing. Because I also Interned at Merrill Lynch, I have thorough knowledge of Financial Planning and utilize that knowledge when helping someone to find the proper loan to suit their needs. I am also qualified to assist clients in credit counseling, at no charge to them at all.
Organizations Southland Regional Association of Realtors
Education/Credentials Bachelor Degree in Business Administration (emphasis on Finance)
California State Real Estate License
Awards and Honors Highest Producing Agent 2004, 2005, 2006