Tell the loan officer that you can buy the house with cash if you need to... just that you would like to use the money as capital for trading, and would give him some business. I agree with upthread... that best is to qualify for the loan in conjunction with a second income (spouse). In lieu of that, if no W-2 incoming... past few years of tax returns, good credit, and bump up on the down payment.
i did show them 3 years of income tax returns-no losses in capital gains,steady six fig income. 10-15K in interest alone..spouse full time employed,30% down payment.. wife alone on mortgage-no problem,but not with me. that's why i said-fuck it ,fuck this mortgage industry..and paid in full as soon as i scoop up enough cash..
i wouldnt hold a home as a trade right now.. sure mortgage rates are low.. but wont matter when prices fall another 20%
exactly, if the guy could pay off his loan in a year, per his post, why would he need a mtg in the first place?
Exactamundo. mainy of the posters on this site still think its 2006--- liar loans will never return. anyone with free taxact can show anything on tax returns to get a loan----- the future is hardcore verification direct from an employer--- or direct from the IRS--- no the garbage that use to pass and not best case scenerio for commission workers....