Case Study—Business Owner Successfully Buys Home After Initial Qualification Scare

A successful business owner came to us in desperation because she had been told by a previous mortgage broker that she only qualified for a low amount.

The amount she had been told she qualified for was so low that she could not buy any of the homes in the neighborhood she wanted to live in, even though she made far above average income for the area.

Upon review, we found that she was actually perfectly qualified for the type of home she wanted. She had been previously rejected for a purely loan-technical reason. We solved it by using a loan program for business owners that required only one year of tax returns instead of two years. This was allowed, because she had been in business for over five years. She went ahead, and she purchased a home that she and her family were very happy with.