The client is a Taxi Driver with 1-year experience Looking to purchase a home for $525,000 20% down payment coming from the sale of existing home Credit score was 682 (2 previous R2s) The client’s bank declined the deal due to less than 2 years Business-For-Self What documentation would be required? Evidence of business The client provided his Taxi License Income Documentation - The gross income on the Self-Declared Letter was validated by annualizing both cash and point of sale deposits for the last 3 months, in the client’s business account Solution: The expenses outlined in the Self-Declared Letter Net income will be used to qualify the deal Our allowable GDS/TDS is 48%/48% with a maximum 30-year amortization Approved 80% LTV