Financing in 33914>Question Details

Rasha0927, Home Buyer in San Antonio, TX

Can I get approved for a conventional loan with my situation?

Asked by Rasha0927, San Antonio, TX Sat Oct 26, 2013

My credit score is 640, 20% down payment, I have opened a company in 07/2012 but it was then controlled by a another company due to complications in my divorce. However, in this year was receiving commissions and payroll this year from the controlling company. Any possibility I can get approved for a conventional loan. Previously I was an owner of another business's for 10 years with my ex husband in the same work field. Please advice. I currently live in San Antonio Texas. Thank you

0 votes Share Flag Financing in 33914

Help the community by answering this question:



I heard back from my underwriting help desk. I am pasting their response below:

At a minimum, we would need filed tax returns showing a FULL 12 months with the present SE business, and then we may consider using the prior SE business as a history. The new business would need to have the same or greater level of income as the prior.
0 votes Thank Flag Link Tue Oct 29, 2013
Contact Cape Coral Mortgage (239) 540-5555 ask for Jamie or Tracy !!
They can and will get your financing done with a better Rate and Term that most other Lenders 9 out of 10 times !! They are the ONLY mortgage professionals that I trust for my clients !!
0 votes Thank Flag Link Mon Oct 28, 2013
I have owner-financing on one of my listings and also have an investor that will do 3rd party financing at slightly higher than conventional market if buyer has sufficient down payment. Contact me so I can start sending you info on homes in the 33914 zip code and we'll work on your financing issues at the same time!
Sam Yaffey, Realtor
Century 21 Sunbelt (at Surfside by Starbucks)
0 votes Thank Flag Link Sun Oct 27, 2013
I live in San Antonio, TX. Is there financing in San Antonio?
Flag Sun Oct 27, 2013
if you are looking to finance in the 33914 area (where I live)
I have the right lender for you, who can make it happen, as long as your credit score is above 620.
Please contact me
Dirk Fischer
(239) 250-7337
0 votes Thank Flag Link Sun Oct 27, 2013
If you just opened a company last summer, you will have to wait. Underwriting guidelines call for 2 years of self employment in a new business. Having 10 years experience in another business may help.

I have written to my underwriting manager for clarification and will report back on Monday.
0 votes Thank Flag Link Sun Oct 27, 2013
I have some lenders I work with that should be able to help you. You can apply online if you want or you can call them to discuss your situation. Feel free to contact me for their contact information as well as with any other questions you may have. As a resident of Lee County, FL for over 25 years I know the area extremely well and would be more than happy to assist you. You can email me at or give me a call at 239-707-4575.
0 votes Thank Flag Link Sun Oct 27, 2013
You need a..... Stated Income ALT..... type loan for Self Employed borrowers.

Read about them here:…

100% LTV- VA
100% LTV- USDA
99% LTV- FHA/580 score @ lower LTV

90% LTV- 2nd Home- NO PMI
85% LTV- Super Jumbo- NO PMI

85% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k

STATED INCOME ALT-up to Super Jumbo

90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX n’ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money


Steve McRory
Pro Option Mortgage/ Florida
Ph: 888 662 4404

Prior Service: U.S. MARINE CORPS
0 votes Thank Flag Link Sun Oct 27, 2013
I am a local Mortgage Banker here in Southwest Florida. My first question is: You are living an San Antonio, TX now, are you looking to purchase a home in Southwest Florida as a primary residence or second home?

That could immediately dictate whether the income you earn can be considered or not.

Nathan Davis
NMLS 319449
0 votes Thank Flag Link Sun Oct 27, 2013
I think that, as long as you can show two years in the same FIELD, (not job) you should be fine. Contact a local mortgage banker, not a big bank but someone local who specializes in writing mortgages, and talk to them. They will tell you what can be done today and if not today when and what needs to happen in the mean time.
0 votes Thank Flag Link Sun Oct 27, 2013
Yes, I believe I know mortgage brokers that can help you. They're very thorough and have great banking connections.

I also noticed that you're looking for financing in the 33914 zip code, where I'm an expert in homes, both on water and off-water. It's a great section of our city. I've lived here over 17 years and have extensive knowledge of our community, boating, fishing, biking, kayaking, and so much more.

To get you started, please contact me, and I'll put you in touch with a mortgage broker while I research homes for you to view on the internet from the MLS. By the way the MLS is so much more accurate that the websites available to the general public, which are often very out of date.

Just contact me!
Sam Yaffey
0 votes Thank Flag Link Sun Oct 27, 2013
Sam Yaffey, here again. I forgot to mention that I'm a realtor with Century 21 Sunbelt - #1 in FLORIDA!
Flag Sun Oct 27, 2013
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