Q. Are the qualifying ratios still 28/36? I know that ratios much higher than this are approved. Is this solely due to the compensating factors? Should I use something other than 28/36 in today's market to qualify borrowers?
Q. I have a borrower that owns his own consulting company for 1 year, and also draws a regular paycheck. I want to send him through an "A" lender as a full doc. If the address of the company is different than his primary residence, can I get around calling him "self-employed"?
Is the address of the company and his address the primary concern?
Q. Does PMI count for Tax deductible? For 5% down borrower, if some of the fund came from gift, what will be required for that proof? Any seasoning issue?
Besides, how we better advise them to go - 80/15 COMBO or 95% one loan? Thanks.
Q. The product chart on page 19 of the Top Producer manual indicates -0- reserves and 40-40% debt ratios for the Freddie Gold program. The Freddie web page shows 1 mo reserves and debt ratios of 38-40%. Do you have the most recent information for the items on this page. Also, is the Community Home Buyer program still an active program?
Q. Do you know of any lenders for the state of Pennsylvania who allow a 4 month unemployment job gap with or without collecting unemployment?
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