Not true at all. If you are self employed getting underwritten can be a nightmare. We had savings galore but they wouldn't count it for a variety of reasons (w

Not true at all. If you are self employed getting underwritten can be a nightmare. We had savings galore but they wouldn't count it for a variety of reasons (withdrawn from biz account in last 90 days, biz account showed slight decrease because of covid), then calcs with old place and new together are hard. Sometimes if you just leverage equity in old place you will be moving from + hard money + savings, you can do a cash offer, then sell off old place (we had a preemptive offer 4 days in well over asking - bay area). Now you only have to be underwritten for one property (before selling old property they included both in calculations which made it hard). We got a 3% rate, then used that to settle up everything back to the way it was. California also have firms like Reali (https://reali.com/how-to-guide-cash-offer/ https://reali.com/how-to-guide-cash-offer/) that do a cash offer on new place, then you sell old place and buy from them. This might be unique to the insanity of the CA market in last 2 years. I think it is cooling down thankfully?