Home Buying in East Dallas>Question Details

John Broussa…, Other/Just Looking in Houston, TX

Self Employed Home Buyers are Taking Advantage of New Alt Doc Loan Program

Asked by John Broussard, Houston, TX Wed Aug 13, 2014

Since our investors have introduced this product we have seen a dramatic increase of self employed borrowers re enter the housing market. For years they were shut out unless they were able to pay cash or owner finance, this was due to the new guidelines imposted by federal regulators. Purchase money is available for TX properties but no refinances are available at this time. Most of the activity we have seen is with Jumbo Loans even with the required 20 to 30% downpayment required depending on the fico score. This product also extends out to W2 borrowers who have had a foreclosure, short sale, filled a BK or with less than prefect credit. Borrowers do not have to wait the mandatory 2 to 4 yrs to qualify for a mortgage with this product they can qualify one day out of a foreclosure, short sale or BK.

John Broussard
Account Executive
Newbridge Home Loans
713-777-9996 Ext 103

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If this is real, then it will help many buyers.
0 votes Thank Flag Link Fri Aug 15, 2014
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