Hi all,
I'm moving from NYC to Denver early next year. We're looking to buy a house in the 700-900k range. Spoke to a broker to get ahead of the game a bit and was surprised to hear our net worth alone ($2.4M) wouldn't be enough to secure our mortgage. That's 95% highly liquid by the way.
Otherwise, we make about 200k a year right now but income fluctuates alot because I run my own companies. We spend about 100k a year. Mid 30s.
Anyway, I was also surprised to hear they'll disqualify that income because it comes from my companies and isn't stable.
The last time I got a home loan was 2006 and it's wild how easy it was back then. Though really not a good time to invest in real estate.. don't ask :)
Any ideas on a better way to approach this? Worst case we can do cash, I guess, but not preferable.
Submitted July 29, 2019 at 10:17PM by BlindingLT https://ift.tt/2YxuqzZ
