Portfolio Loan and Mortgage Awesomeness

Here's the deal... there is no such thing as a cookie cutter scenario when it comes to home financing. Whether it's FHA, Conventional, Jumbo, VA, USDA, etc... everyone's situation is different. Portfolio loans are designed to get folks approved when they are not eligible for any "normal" type of financing.

a popular way to purchase or sell a home without having to deal with banks or lenders. This is an attractive route to take if the property that is being sold is unique, or if the buyer of the home cannot get approved for a mortgage for one reason or another.

The answer is yes it's possible, but each situation is unique. Before we dive into how it's possible, let's get on the same page of what the root issue is. Being self-employed less than two years makes it difficult for the lender to make a determination of what your actual income is because there is limited history.

Finding out that the condo you're looking to buy is considered to be a non-warrantable condo can be heartbreaking. When a condo is identified as a non-warrantable that means it does not meet conventional guidelines (meaning Fannie Mae and Freddie Mac won't buy the loan).