Profile picture for user27083861

Refinancing for Harp loan in Wyoming - self employed.

I am having a tough time refinancing our homes( loan amount $400,000.00) in Jackson, WY. We have great credit, on time payments,and enough savings for two years of payments. We have been turned down for harp due to the lack of income on our tax returns - self employed. I read if you have enough savings for one year of payments - you qualify for the Harp loan. So far - no luck. Can anyone help refi in Wyoming? 
  • February 06 2013 - Jackson
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (3)

Profile picture for user27083861
Thanks. Both homes are currently investment properties; however, we are planning to move into one in order to refinance. One is Fannie and the other is Freddie.
  • February 06 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

There's no DTI cap, if your tax return shows at least $1 of income you qualify, Fannie or Freddie.

Fannie Mae does offer the asset alternative (12 months reserves) to income.
  • February 06 2013
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Is your loan a true HARP (Freddie owned) or is it a Fannie?  Is this a primary residence and do you own other properties?
  • February 06 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.