All Forum Posts by: Harjeet Bhatti

@Nicky Reader Any kind of loan is a liability that will count as liability and lender will hit your DTI with instalment. If its grant they will look into your business if its still producing income they will count the income unless they have overlays.

@Nicholas Romero According to guidelines it shouldn't be problem but that could be their overlays. Lenders are taking precautioning measurement now a days.

@Nicholas Romero The reason they may have cancel the loan because due to PPP loan they may have information your business is close due to COVID-19. If business is close no income will be consider as income. You have right to ask the lender the reason of cancelation of loan. 

@Sebastien Beauboeuf If you are planning to renovate the home you have to preplanned for renovation funds. You need cash for renovation. If its less than 10 payment lender can exclude  car loan from your liability. 

@Albert Guse You can try under FHA loan if you can demonstrate that the bankruptcy was caused by circumstances beyond your control.

@Mia G. You can use both products. Home Possible is income and area restricted with 5% down payment. FHA has 3.50% down payment requirement.

@Richard Fulgium @Kirk R. I work for 5/3rd bank. We do count rental income if you have one year landlord experience that could be your primary home or rental income from other property. If its primary home we can still count other units income.

@Bryan Cavellier Your lender is right that's how the guidelines are for Fannie Mae and Freddie Mac.  

@Sunny S. The other borrower can come on application as non-occupying co-borrower.  

@Wendell Carmona That shouldn’t be problem.