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Updated almost 8 years ago,
Obtaining a loan....
I have successfully over past 2 years flipped 4 projects on my own I have netted 45k(long term lived in) 30k 40k 48k respectively. I have 2 years of tax returns all basically from capital gains under my own name. I have used the same back Santander for duration of my house flipping career with the hopes that could one day pull a loan from them well today I got a shock when I tried to pull a home equity loan/line of credit on my lastest project I chose to keep, I was declined the loan because they don't consider my income sustainable even tho I have a collateral to protect the loan. My question is doesn't any one know of banks or lenders that are willing to give me money using my my house and 2 year tax returns the way that they are? Thank you appreciate your response in advance.
Sincerely Ryan