Posted on: 08th Apr, 2010 07:53 pm
Hello,
Im looking to buy my first home. Here is the few details:
-1099 for 3 years
-35k shown on Taxes since Business expenses etc. 1099's over 100k annual income
-800 month worth of payments on Credit (car,credit card)
-Credit is ~650+ No debit beside Auto note and student loan
about 180k home is what Im looking at.
Any Ideas?
Im looking to buy my first home. Here is the few details:
-1099 for 3 years
-35k shown on Taxes since Business expenses etc. 1099's over 100k annual income
-800 month worth of payments on Credit (car,credit card)
-Credit is ~650+ No debit beside Auto note and student loan
about 180k home is what Im looking at.
Any Ideas?
If you'll are able to provide your lender with your employment details, then there are chances that you may be able to qualify for a loan. After the real estate crisis, the lenders have stopped giving no doc loans. With a credit score of 650, it will be difficult for you to get a conventional loan. However, you would be able to get a FHA loan.