You may need to wait 6 months+ to use a value higher than purchase price,so you have 20%+ equity and avoid mortg ins..otherwise it’s a 90% loan,however you have done improvements.
Common sense is gone. They don’t lend on equity.It’s an automated underwriting system.
For self employed, you probably need 2 years tax returns of steady income. W-2 wage earner with pay stubs may get by with less.
For the numbers you are talking, you will probably need $2000-$2500 a month minimum income.
Are you in CA ?? you can contact me directly if you want for more info.. [email protected]
