| FTHB SCENARIO - Who can do this one?
Here's one I thought would be pretty easy, but it has me for a bit of a loop. Here's the scenario:
-O/O Purchase (FTHB) in Georgia
-605 mid score, Full Doc
-Looking for 100% LTV (95% possible if allow for unseasoned funds)
-1 open trade line reporting for 14 months
-Private VOR
-Alternative trade lines are available if needed.
-Borrower is currently CEO of a family owned residential painting business in Atlanta. He took over the CEO position at the begining of 2006. The 5 previous years (2000 to 2005) he worked for the same company, however he was working as 1099. I have 1040's (no W-2's) for 2004-2005 and pay stubs for 2006 YTD.
The lack of trade lines and the FTHB status together seems to be causing problems for most of my subprime lenders.
Any lenders out there who can do this one?
Thanks.
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