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Fri, May 20, 11 at 23:22
| What does a buyer need to do to get a loan when he's moving to another state and is self-employed and has to restart his business? How much does he need to put down? Are they even giving out those loans anymore? Thanks! |
Follow-Up Postings:
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| If you go well over 20% down (30% to 40%) you will get significant relief on underwriting. Having to restart a business is going to raise flags since it makes the previous business no longer a reliable way to assess income. |
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- Posted by LoveInTheHouse (My Page) on Sun, May 22, 11 at 22:54
| Thanks! |
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- Posted by pamghatten (My Page) on Wed, Jun 1, 11 at 13:49
| He doesn't actually then have a business nor does he have income, so he won't get a loan based on income from a different state and different business. |
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| "He doesn't actually then have a business nor does he have income, so he won't get a loan based on income from a different state and different business." It is going to be hard, but if you put enough down you can usually find a lender. |
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