If you can't verify your income, no jumbo loans for you
If you are looking for or currently have a jumbo loan, that is the one over $417,000 unless you live in some very expensive areas, which you probably do not, where this mortgage limit is over $700,000, and your income isn't sufficient to qualify, you are going to be in trouble very shortly. Even if you have sufficient verifiable liquid assets, that is cash in a bank, various retirement accounts and low Loan to Value or LTV ratio, that is high equity, soon you won't be able to get a mortgage. So if you are buying or looking to refinance and your situation is similar to the described, hurry up, you don't have much time.
Mon May 19, 2008 02:05PM | Copyright: www.bad-credit-advisor.com | More in Mortgage | Comments (0)
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