Dallas Real Estate News: You Can Get a Mortgage if You Have a W-2

I was in Southlake over the weekend, and on radio 1160 am with renown mortgage broker Ron Schultz. He said what I’ve written now about a hundred times: there are loans out there for folks with good credit scores and W-2s. The biggest problem is finding mortgage loans for the self-employed. Those deals are near impossible because most self-employed work off K-1 income to control taxes so when they go to get a loan now it’s like, hey, how can you loan this person a penny, he doesn’t earn any money! When the self-employed mortgage loan comes back, says Ron, then our market will get moving.

Interesting: Ron says jumbos are back now big-time, with great rates.