Can someone please explain full doc and stated just so I am clear, I think I know what it means but it’s always better to ask…
Here’s our problem…
My husband wants to quit is regular job when we sell our house in a few weeks. I run a small business here in Canada. We plan to start an REI Company in Texas but are faced with the issues of Canadian tax returns and well when we arrive we’ll have money but no jobs to show lenders. We understand we can use HML for the rehabs but what about showing docs for a primary residence loan and and when it comes time to sell the rehab if we want to refi what happens then if we can’t show it on paper? What sort of down payment can if any can we not show any paperwork?
Some things working in our favor…
We will have money for down payments but what amount is the question?
My husband has a lot of experience with renovations but we would prefer to hire out for the sake of time.
I have experience running a business.
I hope that makes sense…
Thanks in advance