Asked by Bob, Tehachapi, CA • Fri Feb 18, 2011
Does anyone know what lenders will do a diminishing asset home ie a loan where the qualifying is based on borrower having sufficient net worth to insure the loan payments, rather than monthly income sufficient to qualify under the income ratio rules.
I have heard that there is/are lender(s) that have figured out that a borrower with net worths in excess of the loan balance could be as good as depending on someone keeping their job for the next 30 years.
Real Estate in Tehachapi
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