%% THEY are more strict with any self employed/good reasons for that. Community Banks may, or may not wisely differ; but since they make money off loans being repaid/good reasons for the strictness. And some may require an IRS release /so they also get your real IRS forms+ not just the ones a client turns in...………………………………………………………………………………………………………………..
That is a naive question. The presumption is there is nothing EXTERNAL to the brokerage account. IMO, the "best" solution (for this issue and other similar going forward in life), was mentioned in 2018, on page 1 of this thread...
So people with full-time jobs do not accumulate or acquire anything? C'mon man, its just a silly premise that a full-time trader or investor has no assets or cash EXTERNAL to the working brokerage account.
You are right I shouldn't assume. If I were a banker I might lend money if it were fully secured. I'd have trouble lending money if I wasn't certain that it could be repaid.
I work in finance. If you were in Canada, and have 20% equity.. I could get you a loan in 5 minutes on approved credit, granted you have any active or prior loans ( car payments, credit cards in good standing ) Dont pay? We take the house with the equity. Talk to some good brokers ! Everything is doable.
You can get a no income verification loan. Also, called a stated income loan. I've done it and my wife is a realtor with countless clients that have done them. it varies but right now in L.A. you would need to: Put 30% down (used to be higher) Pay a higher interest rate. Currently ~5% Have 1 1/2 years worth of payments in your bank account as a reserve.