By: Mortgage Specials  09-12-2011
Keywords: Bank, self employed

Banks are often worried about their bottom lines and you have to pass through their stringent criteria to make sure that you will be the ideal candidate for the bank and that you will make them a good profit and not default on your mortgage loan.

Banks will not finance you if you do not have a job or for self employed - a good business history with proven minimum three year business financials, tax returns, notice of assessments (NOA's) etc.

You could be turned down by a bank for a number of reasons:

1.  Low Income

2.  No Proven Income ( commission work )

3.  BAD Credit history - Low Credit Report Score

4.  Bankruptcies / Debt Consolidation

5.  Slow Credit

6.  New Immigrants, Student or Foreign investor

7.  Collections

8.  Not enough Down Payment

9.  Unable to cover the Closing Costs

10  Vacation Property

11  Out of major city limits

But we can help you if you are turned down by a bank because we have access to over 35 Lenders. They have various criteria, but since we do volume business with the banks, we have greater leverage to negotiate for your loan and we will get you approved within a short period of time. We also deal with B, C, D lenders which are mostly private lenders. These lenders can lend you money 1 to 2% above the bank rate.

If you areTURNED DOWNby the bank and are for Creative Financing Options.

Keywords: Bank, self employed

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Mortgage Specials

We have access to over 35 Money Lenders who have programs to ease your mind and buyers like you can benefit from programs that offer Cash Back at closing, or our lenders can also give you FREE DOWN PAYMENT for your home. First time home buying and shopping for the Best Mortgage Rate can be overwhelming for some clients, but we make the process as easy as possible for our valued clients.