Daniel Velez, Real Estate Pro in Brooklyn, NY

refinance pre-approval for recent self employed?

Asked by Daniel Velez, Brooklyn, NY Wed Apr 15, 2009

I going to buy a property with money from a line of credit that i have. Once i fix the property up i want to refinance base on the ARV , get a conventional loan an pay back the line of credit. Im a recent self employed somebody mentioned that a no doc loan would help me in my situation.

I want to get pre-approved for that refinance. Does anybody knows a broker that works on that kind of loans?

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Answers

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Daniel,
If you are referring to stated income loans, they went away and as of now I can't see them coming back. There are loans out there as long as you can prove income as self employed. Most banks want to see 6-12 months of tax returns to qualify. If you need any more help, feel free to contact me. I hope this helps. The very best of luck to you!
Michael

Michael D Delp
Mortgage Pro
4802 Old Bethlehem Pike,
Telford Pa. 18969
Ph- 215-453-1025
Fax- 215-453-1012
Cell- 610-762-0318
michaelddelp@aol.com
michaelddelp@verizon.net
http://www.mortgagepro.instantlender.com -
0 votes Thank Flag Link Mon Apr 20, 2009
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