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by
Mon Jul 15, 2019 7:55 pm
Forum: Home Loan Forum
Topic: Got knocked back by the mortgage insurer - 95 per cent home loan
Replies: 3
Views: 9472

Re: Got knocked back by the mortgage insurer - 95 per cent home loan

Exactly, what I was looking for. My tax returns for the recent financial year haven’t been filed yet. Will lenders accept older tax returns for income verification or do I have to file my tax returns before I can apply?
by
Mon Jul 15, 2019 7:18 pm
Forum: Home Loan Forum
Topic: Got knocked back by the mortgage insurer - 95 per cent home loan
Replies: 3
Views: 9472

Got knocked back by the mortgage insurer - 95 per cent home loan

Hi, I’ve been investing most of my earnings into my business from which I earned well over $100,000 last year. So, I thought with property prices in my area where they are currently, it’s time for me to purchase another property. I approached my bank for a mortgage and the LO (loan officer) told me that even with a 5% deposit I wouldn’t be able to qualify for their mortgage. They told me its because of their mortgage insurer. I’ve already found a property I’m interested in. How do I qualify?