Shop around as much as possible, but the likely answer is no. Banks are being very careful with their lending right now, and will need to see long-term proof of your business income.

Bradley

The problem is your requirement for low interest. That isn't going to happen. 20% down is the minimum for investors right now. The banks have been badly burned. You're going to pay at least 1% above the owner occupied rate. However, that may not be a bad deal. You'll make your money on the front end in today's market by buying at a discount. Call Mike Dorman, Capital Financial in Kent, at 253-229-7864. He does portfolio lending and also has private investor funds available. You're going to need super documentation on your business and your tax filings have to show the profit you're making. Good luck!

Bradley
I would contact Kevin Smith from Wells Fargo (kevin.smith@wellsfargo.com 206-389-1100).
Mary

This is a tough scenario, but not impossible. I would sit down with a mortgage broker and discuss all of your viable options.

I am a mortgage broker. If I can be of service, please let me know!

Martin Smith

Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com

Some lenders will be open to working with you, and others won't.

Stated income loans disappeared for some time, but they're starting to come back in some areas. If you keep running into roadblocks with lenders objecting to your self-employed status, then you might consider pursuing a stated income loan as an alternative.

It sounds like you shouldn't have too much of a problem with a loan. With all of the changes lately, you'll want to speak with a professional that keeps educated on current issues.

I use a mortgage broker that I work with often and he treats my clients very well. He is very knowledgable and can answer any questions that you may have. This guy really knows his stuff.

His contact info is:

John Hunter
Cedar River Mortgage, LLC
23220 Maple Valley Hwy SE #12
Maple Valley, WA 98038

(425) 413-4400
(877) 272-7415 Toll Free
(425) 413-4700 Fax http://www.cedarrivermortgage.com

jhunter@cedarrivermortgage.com

Please give him a call and/or email and he will respond very quickly. Let him know that Julie O'Brien asked you to call him.

Any other questions that you may have, please feel free to contact me anytime. Julie O'Brien 253-312-7811 or JulieKnowsHomes@Live.com