Home Buying in Seattle>Question Details

RVD, Home Buyer in Seattle, WA

any mortgage lenders with access to non-traditional lenders?

Asked by RVD, Seattle, WA Fri May 3, 2013

i want to put in an offer for a home that is $1.1m. i plan to put 20% down. I have plenty of liquid assets ($800k) and make good money but a good portion of our income is self employed. self employment income has been steady but i can't seem to be able to explain this in a way so that a bank will understand so they won't count it as income.

any asset based lenders, "no doc" type lenders, etc. out there? credit is good (720 ), had lots of mortgages in the past with no late payments for decades, etc.

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Karen Mcknight’s answer

Part of your income being self-employment income should not be a problem. You just turn in two years of tax returns. If you run a lot of your expenses through your company, you probably need a very experienced loan officer with a good broker / banker company. The loan officer will also need the financial statements from your company if you run a lot of expenses through your business.

Your situtation sounds complicated enough that you don't want any "order taker" type, inexperienced loan officer to help you get your mortgage. I have two very solid lenders I can recommend if you'd like to contact me.

Warm regards,
0 votes Thank Flag Link Sun May 5, 2013
See my previous reply. I also will be happy to work with you to place an offer.
0 votes Thank Flag Link Sat May 4, 2013
yes, i saw your previous reply.

i will keep you in mind for an offer. i actually already have an agent though. thanks!
Flag Sat May 4, 2013
Try Susan Henry at Washington Federal. They are a portfolio lender and worked very well for my seller's buyers on a difficult-to-finance sale.

Office: 425-776-1121
Cell: 206-755-1231

0 votes Thank Flag Link Sat May 4, 2013
thanks! will do.
Flag Sat May 4, 2013
Sounds like you need a portfolio lender, or mortgage broker with some private money clients. I have a couple of suggestions. If you'll get in touch with me off-line, I'll point you in the right direction.
0 votes Thank Flag Link Fri May 3, 2013
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