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21
Locked at Loan Cabin - Conventional, 20 year, 2.375% w/ $6200 lender credit.  No lender fees, just standard refi costs.  Hope I'm not in for a world of hurt again.  My last refi with them took a bit over 6 months and then another 3 weeks after close to fix some paperwork issues.
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Intelliloan is offering 1.875 rate and APR for 15 yr fixed.
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Irvine Real Estate / Re: Priority List - Down Payment
« Last post by Irvinehomeseeker on Yesterday at 05:27:33 PM »
i didn't have to send proof of funds to IP to get on priority list. I gave my docs to Union Bank, who pre qualified me. If the builder has questions, they can contact the bank.
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Owner's Issues / Re: Moving company
« Last post by The California Court Company on Yesterday at 05:23:57 PM »
hourly rate of $240 for 3 movers 1 truck?

it is a long drive to James Creek.
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Sports / Re: Lakers News
« Last post by Cares on Yesterday at 05:10:05 PM »
Drummond and Gasol were complete liabilities on offense. They were only good for their rebounding. With Westbrook you still retain rebounding and actually gain a dog perimeter defender.
You mean defense? I honestly think the players are decent. Gasol should have been enough to be a back up center for AD. I have a feeling Vogel isn't getting enough blame for the Lakers lack of adjustments in the playoffs this season.

I think the Lakers didn't appreciate Dwight Howard. He didn't need to be Orlando's version. He did exactly what he was suppose to do. Defend, rebound, and maybe 5-10 ppg. That is what the lakers need as a backup for AD as well as additional 3pt shooters.

No I meant liabilities on offense. They cannot create any shots on their own. Drummond is known as butter fingers.
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Short answer is no.

If you own the company, you need 2 years full W2 and tax returns as well. Reason being you could easily pay yourself a high amount in Q1 and stop all payroll completely at year end.

Many newly self-employed people fall into this problem of not qualifying for a QM loan because a lack of sufficient income history. The same actually goes for a W2 employee if they do not have 2 years of work experience. Sometimes even if you do have 2 years total work experience but only a few months at a new job in a new field the underwriter might deem your income to be instable.

The only way I can help borrowers is to help them finance into a QM loan with looser guidelines but higher interest rates and then target to refinance into a QM loan once the income history is solid. Other lenders may be able to help you but I think it will be very few that don't adhere to the 2 year income history.
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For self employed you need 2 years of filed tax returns to qualify for standard loans. I have nonQM lenders that can do it but expect rates to be 3+% more than traditional mortgages.

Hi Cares, Thanks for the reply -- As the business is a new one and has no prior tax returns, will the payroll that he is running as an employee, let him qualify as a regular W-2 employee? by taking only his payroll numbers into consideration (not the business income) for loan qualification along with his wife's regular W-2 numbers ? -- His wife is on W-2.
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Irvine Real Estate / Re: Where the market is - Buyer Offers
« Last post by sleepy5136 on Yesterday at 04:57:44 PM »
Trump didnt fund programs? You could of sold nothing at the farm and could of made bank. Get reimburse for loss income due to the trade war that he created. But wait how do they know how much income they lost because demand changes constantly. (PeepeLaugh)
PPP loan was not a loan. It was basically a grant aka free money. The taxpayers paid business to stay open. We got royally screwed and shafted. No one talks about except me. No one does. Either they dont get it or dont understand. Mean while people are struggling to survive.
Who created the policies doesn’t really matter since it does have to go through Congress for anything to be in effect. If there is something to be worried about it would be housing affordability and homelessness growing. People that couldn’t afford one now can almost forget about getting one now. Income inequality is higher than ever now. Who knows what will happen in the near future but I would be surprised if the housing market got a correction which I would argue is needed. And with the strict building codes in California, building “affordable” homes is almost impossible.

The trump farm money was an executive order.
I was specifically mentioning PPP. I can't recall how much was given to the farmers, but let's just say that a ton of money was pushed into the economy for "stimulus" purposes and majority of it was passed via Congress...
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Sports / Re: Lakers News
« Last post by sleepy5136 on Yesterday at 04:52:33 PM »
Drummond and Gasol were complete liabilities on offense. They were only good for their rebounding. With Westbrook you still retain rebounding and actually gain a dog perimeter defender.
You mean defense? I honestly think the players are decent. Gasol should have been enough to be a back up center for AD. I have a feeling Vogel isn't getting enough blame for the Lakers lack of adjustments in the playoffs this season.

I think the Lakers didn't appreciate Dwight Howard. He didn't need to be Orlando's version. He did exactly what he was suppose to do. Defend, rebound, and maybe 5-10 ppg. That is what the lakers need as a backup for AD as well as additional 3pt shooters.
30
Sports / Re: Lakers News
« Last post by qwerty on Yesterday at 04:44:42 PM »
Drummond and Gasol were complete liabilities on offense. They were only good for their rebounding. With Westbrook you still retain rebounding and actually gain a dog perimeter defender.

I think Gasol has a player option. I’m guessing he will exercise if he has not already. Drummond seemed like a disappointment and IHO and myself are faster that Gasol. I hope neither are Lakers next year.
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