Posted on: 25th Nov, 2012 11:54 pm
I want to buy a house within $40K - 70K. I can make a down payment about $35k - 40K. I don't need that much loan from bank or anywhere else. But I have no income right now and want to find a way to get a little amount loan to be able to buy a house. From the rent I want to pay the little loan.
If you don't have any kind of income, you won't be able to qualify for any kind of loan. You will have to show some kind of income in order to get a mortgage.
Without having any source of income, it is not at all possible for you to qualify for any loan. In this situation, you will have to show some kind of income proof to your lender if you want to get loan approval.
Lenders don't offer a loan less than $50k. Here, you have not said anything about your credit score. Credit sore and records of continuous employment of 2 years is very important to get approved for a loan. Given the fact that you don't have any income right now, it will be difficult to get approved for the loan.