I think it will probably depend on the underwriter, but until you apply, it’ll be really hard to know. Maybe the mortgage person who used to post here in the past could give you a better gauge.

I don’t think a lot of these companies care very much about strong fundamentals since the loans are almost always sold to fannie or freddie so they set the guidelines as to what you need.

I remember in our case, I was telling the loan officer to simply tell me what I had to put down to qualify and one company (Wells Fargo) didn’t want to work with us at all. It didn’t matter if we said, 10-20-40-90, just no response even though we submitted all our paperwork.

It didn’t matter if theoretically, we could put 99% down or anything it seemed. A total pain in the ass (we’re self-employed) and no response or updates at all.

Either way, the underwriter may try to look and see if that personal matter may occur again (eg: taking care of parents/ health reasons) and they can deny based on that.

I’d say just apply and see what they say. Pre-approval doesn’t mean much neither I don’t think since the week of closing, they required our latest tax paperwork which we had to deal with last minute.

I really think if you put enough down, they should consider that since you’re taking the risk for the property dropping in value, etc.

I think it will probably depend on the underwriter, but until you apply, it’ll be really hard to know. Maybe the mortgage person who used to post here in the past could give you a better gauge.

I don’t think a lot of these companies care very much about strong fundamentals since the loans are almost always sold to fannie or freddie so they set the guidelines as to what you need.

I remember in our case, I was telling the loan officer to simply tell me what I had to put down to qualify and one company (Wells Fargo) didn’t want to work with us at all. It didn’t matter if we said, 10-20-40-90, just no response even though we submitted all our paperwork.

It didn’t matter if theoretically, we could put 99% down or anything it seemed. A total pain in the ass (we’re self-employed) and no response or updates at all.

Either way, the underwriter may try to look and see if that personal matter may occur again (eg: taking care of parents/ health reasons) and they can deny based on that.

I’d say just apply and see what they say. Pre-approval doesn’t mean much neither I don’t think since the week of closing, they required our latest tax paperwork which we had to deal with last minute.

I really think if you put enough down, they should consider that since you’re taking the risk for the property dropping in value, etc.

I think it will probably depend on the underwriter, but until you apply, it’ll be really hard to know. Maybe the mortgage person who used to post here in the past could give you a better gauge.

I don’t think a lot of these companies care very much about strong fundamentals since the loans are almost always sold to fannie or freddie so they set the guidelines as to what you need.

I remember in our case, I was telling the loan officer to simply tell me what I had to put down to qualify and one company (Wells Fargo) didn’t want to work with us at all. It didn’t matter if we said, 10-20-40-90, just no response even though we submitted all our paperwork.

It didn’t matter if theoretically, we could put 99% down or anything it seemed. A total pain in the ass (we’re self-employed) and no response or updates at all.

Either way, the underwriter may try to look and see if that personal matter may occur again (eg: taking care of parents/ health reasons) and they can deny based on that.

I’d say just apply and see what they say. Pre-approval doesn’t mean much neither I don’t think since the week of closing, they required our latest tax paperwork which we had to deal with last minute.

I really think if you put enough down, they should consider that since you’re taking the risk for the property dropping in value, etc.

It does depend on the lender, but I think a lot of them will just factor your time off as months that you brought in $0. They would take the total income over the past 2 years and divide by 24 to arrive at your monthly income. Essentially, it might lead to you qualifying for less home, but you could still qualify in a lot of cases if your finances are solid otherwise.

It does depend on the lender, but I think a lot of them will just factor your time off as months that you brought in $0. They would take the total income over the past 2 years and divide by 24 to arrive at your monthly income. Essentially, it might lead to you qualifying for less home, but you could still qualify in a lot of cases if your finances are solid otherwise.

That should not be a problem if it is the same line of work and you had a good reason to take the time off. Send me a message with your contact info and I’ll be happy to talk to you about it, thanks…

That should not be a problem if it is the same line of work and you had a good reason to take the time off. Send me a message with your contact info and I’ll be happy to talk to you about it, thanks…