If you are self employed, and have no business tax returns… Go Fannie Mae. If Borrower has been self-employed for 5 years or more, you only need to provide 2 years of personal tax returns IF page 1 of the returns indicate an increase in self-employed income.
If you have unpaid collections and non-mortgage charge-offs… Go Fannie. Fannie, on a primary single family residence, does not require ANY of them paid off. Freddie Mac does.
If you are a borrower with Multiple financed properties? Fannie Mae still goes to 10. Freddie caps you at 6.
That’s it for today!
Have a good day today! …and thanks for reading.
Brett
If you receive money from the State or a County sponsored organization for providing foster…
I wanted to address the two most common questions that I get regarding reverse mortgages……
If you purchased a home using your own cash, and now would like to pull…
I wanted to let you know we have a 2% to 5% downpayment and closing…
If you want to acquire rental properties, but you are having issues proving your income…
Do you need cash out of your home, but you don’t want to refinance the…
