Spam prevention
Ambassador
3,029,828
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Bad or low credit scores, lack of income, massive debt, tax liens, the list goes on and on  ... and working with an inexperienced lender. 

Apr 17, 2017 09:55 AM
Ambassador
2,559,740
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Low income, bad credit.

Apr 17, 2017 10:27 AM
Rainmaker
1,708,569
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

poor credit or no credit history, inconsistent work history, too much debt, etc. etc. etc.

Apr 17, 2017 10:21 AM
Rainmaker
1,453,727
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Corey Christiansen Being able to make the monthly payment.

Apr 17, 2017 10:14 AM
Ambassador
4,312,753
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Corey Christiansen - habits! Financial Habits I mean...

Apr 17, 2017 10:47 PM
Ambassador
4,172,830
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Yep, not enough income and bad credit...as Fred Griffin said!

Apr 17, 2017 08:56 PM
Rainmaker
543,574
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Low credit score, insufficient income, poor work history, lots of debt...

Apr 17, 2017 03:21 PM
Ambassador
5,325,656
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Credit

income

debts

finding a good LO

 

Apr 17, 2017 02:38 PM
Rainmaker
1,632,742
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Ask your lender

Apr 17, 2017 12:12 PM
Rainmaker
5,487,072
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Corey,

The best answers would come from a lender.  A

Apr 17, 2017 10:59 AM
Rainmaker
1,044,289
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

I am very very late to this post and all seems to have been solved/answered here :-) Happy Days!

Mar 29, 2018 06:19 PM
Rainmaker
4,847,755
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

As an agent, don't have those issues, my lender does.

Apr 20, 2017 10:22 AM
Rainer
54,953
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

It appears that the "Self-Employed" borrower is faced with many more obstacles than a W-2 applicant. The self employed usually takes much deductions in order to lower his tax burden. In doing so,lenders will look at the Adjusted Gross Income (AGI) on line 37 and "ADD Back" depreciation as well as some payments. The sad part is that many Loan Officers as well as operations people make many miss-calculations that hurt the self-employed borrower. Some cannot analyze  the complex returns of the self-employed.  I recently had to explain the tax returns to my underwriter who was in the process on declining a $1.4 million deal. In fact the Debt Ratios were 40% and the underwriter was at 67%. Then we have the normal credit,icome,FICO etc.

 

Apr 19, 2017 10:15 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Income and expenses.  Past debts.

Apr 18, 2017 06:37 AM
Ambassador
1,616,354
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

high debt ratio

Apr 18, 2017 04:40 AM
Rainmaker
3,069,934
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Kathleen Daniels nailed this one!

Apr 18, 2017 04:22 AM
Rainmaker
1,157,485
FN LN
Toronto, ON

Credit score, income, debt level.

Apr 17, 2017 08:02 PM
Rainmaker
1,205,894
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Ask Jason E. Gordon 

Apr 17, 2017 07:56 PM
Ambassador
3,986,660
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Having bad credit or no credit or not making enough money or having too much debt or no work history or no job. There are lots of difficulties.

Apr 17, 2017 06:28 PM
Rainmaker
3,985,831
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Credit score and income!

Apr 17, 2017 05:16 PM
Rainmaker
1,375,787
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Job issues, bank regs, underwritters from hell.

Apr 17, 2017 03:26 PM
Rainmaker
2,630,638
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Loan math is standard math. People have different scenarios that must be bounced off that math thus called qualification. Seek Loan officer input

Apr 17, 2017 02:21 PM
Ambassador
3,705,629
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I don't have to qualify for a loan however my clients are always advised to ask questions so that they can be well informed through the process.

Apr 17, 2017 01:57 PM
Rainmaker
1,707,397
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Credit and having enough money.

Apr 17, 2017 11:47 AM
Rainmaker
4,016,674
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I suggest you discuss this with a loan officer.

Apr 17, 2017 10:36 AM
Rainmaker
6,498,474
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Having enough net income and cash.

Apr 17, 2017 10:17 AM
Rainmaker
878,301
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The reality you have to pay for the things you want.

If we could just get around that.

That means history of reliable income and restrained debt.

Divorce, career change, litigation are all major difficulties.

Apr 17, 2017 10:12 AM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

There is a lot of paper work and documentation to locate and get to the lender.

Apr 17, 2017 10:03 AM
Rainmaker
4,123,105
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Overuse of credit, insufficient income, late payments...

Apr 17, 2017 09:51 AM
Rainmaker
5,571,077
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

this is a great question to ask a lender.....

Apr 17, 2017 09:51 AM
Ambassador
4,541,591
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Credit, income, debt

Apr 17, 2017 09:50 AM
Rainer
353,460
Jim Cheney
Saint Francis Property Santa Rosa, CA - Santa Rosa, CA
Rincon Valley Realtor 707.494.1055

Credit Score!

Apr 17, 2017 09:40 AM