I have no idea about buying a house. What do I need to do to get a loan? I am self employed and part owner of a building company. My credit scores are good and have set aside $50k for a down payment. How much loan can I get with this much as down? by marklagos883 from Aspen, Colorado. Aug 29th 2022
Mark - best thing to do is to get a free pre approval process started ..this will allow you to get these questions answered and also it allows you to become more familair with the current rates and numbers ...let me know if you need a referral to a CO lender :)
Dear Mark:Thank you for reaching out regarding your interest in obtaining a mortgage loan. Congratulations on taking this step toward homeownership!Given your self-employed status and your part ownership in a building company, it's important to ensure that your unique financial situation is properly evaluated to determine the best path forward. I recommend consulting with a local Mortgage Broker like myself who specializes in working with the self-employed individuals like yourself. They can provide personalized guidance based on your specific circumstances.When applying for a mortgage as a self-employed individual, lenders typically require thorough documentation of your income and finances. Depending on how you've reported your income, there may be different requirements and considerations. A knowledgeable Mortgage Broker can help navigate this process and identify the best options available to you.As for the down payment of $50,000 that you've set aside, the amount of loan you can qualify for will depend on various factors such as your credit scores, debt-to-income ratio, and the specific loan programs available to you. Your Mortgage Broker will be able to assess these factors and provide you with a clearer picture of your loan eligibility.Once you've consulted with a Mortgage Broker; you'll have a better understanding of your options, please feel free to contact me. www.stellerlendingteam.com 720-224-1679 Best regards,Michael Steller
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