3 months ago that would not have been a problem. Though you will be hard pressed to find a lender today that can do it. Stated “self employed” has a better shot than stated “wage earner”. Also, the assets would have to be significant.
That is the type of loan that many lenders put a freeze on as of friday. It falls into the Alt-a category. Underwriting guidelines on these types of loans are changing by the hour.
.
Bottom line is it was a common loan up until a few months ago. However with evey new day and another hedge fund explosion on wall street the number of lenders that would take a chance with that loan is shrinking.
