WIth lots of cash, good credit and a brand new top performing restaurant franchise - do I have to wait for 2 years of tax returns to buy a home?

Asked by fjohnson, Scottsdale, AZ Tue May 13, 2014

Are there any lenders/real estate investors in Scottsdale that will be interested in making a "safe" credit decision?

Help the community by answering this question:

+ web reference
Web reference:


Steve Burgess, , San Juan Capistrano, CA
Sat Sep 13, 2014
Well my dear friend you can also avail housing loan with a low interest rate, try to be positive & do little market research, before opting for any mode.
0 votes
Maha Kapager…, Agent, Scottsdale, AZ
Fri Sep 12, 2014
Congrats on your successful business!!! It's frustrating isn't it - I had a client similar to you a few years ago making great money - but the banks wouldn't budge! Light at the end of the tunnel however! You say you have lots of cash - so the option for you is seller carries the mortgage -I did a quick search and found over 60 properties in Scottsdale that the seller will carry the mortgage. If you'd like to learn more about this option call/text me - Maha @ Diamondback Realty LLC, 480-529-0938
0 votes
Josh Hintzen, Agent, Scottsdale, AZ
Wed Jun 4, 2014
Hi there!

Though the answer to your question would usually be yes, but there are new programs becoming available all the time! With a knowledgeable, persistent mortgage lender by your side, it's possible that a program could be found that suits your needs. If you're not already working with someone, my team and I have a fantastic network and can connect you with someone who could assist you further. Let me know!

Best of luck!
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Tue Jun 3, 2014
Have you spoken directly with a lender about your scenario?
0 votes
James Wehner, Agent, Scottsdale, AZ
Tue May 20, 2014
I just found out that Jumbo stated loans are now available. Not sure of all the details, i.e. down payment requirements, FICO scores, etc, but something to consider. What price range are you considering? I have a connection to a few private lenders that might work for you too. Let me know!

James Wehner
West USA Realty
0 votes
Pam Brewer, Agent, Chandler, AZ
Mon May 19, 2014

You really need to contact a local lender directly. In the meantime, contact me directly and I can email you some homes.

Thank you,
0 votes
, ,
Thu May 15, 2014
How long have you been in business? or the same line of business?

I'm not sure if you are asking if you have to have 2 years worth of tax returns from that restaurant or in general.

We have 2 programs for Self-Employed people like yourself that don't fit into the conventional box. Our 12 month bank statement program uses 12 months of deposits (no tax returns) to determine income. Our 1 year tax return program only uses the last years numbers to qualify you. It's a 30% downpayment and you must have been self-employed for at least 2 years.

Follow the link below for my contact info.
0 votes
, ,
Thu May 15, 2014
How long has the restaurant been open? Depending on the results of the automated approval, I may be able to use only one year of tax returns if you can prove the business has been open for 2 years (CPA letter, business license, etc.).
Web Reference:  http://www.azmortgagepro.com
0 votes
Dan Tabit, Agent, Issaquah, WA
Tue May 13, 2014
Try a mortgage broker or a portfolio lender. Portfolio lenders may be available through the broker or may be local regional banks that keep all their loans. The make their own rules and underwriting decisions. If you have enough credit, assets and can make a strong enough case, you may be able to find a lender.
0 votes
Search Advice
Ask our community a question
Home Buying in Popular Scottsdale Neighborhoods

Email me when…

Learn more