Posted on: 04th Dec, 2012 11:44 pm
Hello there… I want to buy a house in Connecticut with $40K - 70K range. 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.
Hi Gilmil,
You have mentioned that you don't have any kind of income at present. In such a situation, you won't be able to qualify for a loan - whether small or big. If you have the cash to buy the property, then you can go ahead with the deal.
Thanks,
Jerry
You have mentioned that you don't have any kind of income at present. In such a situation, you won't be able to qualify for a loan - whether small or big. If you have the cash to buy the property, then you can go ahead with the deal.
Thanks,
Jerry
Hi Gilmil!
Welcome to forums!
I agree with what Jerry has said. Unless you are able to show some kind of income, you won't be able to qualify for any kind of loan.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I agree with what Jerry has said. Unless you are able to show some kind of income, you won't be able to qualify for any kind of loan.
Feel free to ask if you've further queries.
Sussane
Loan is a process of lending money on the basis of getting the payment back by schematic installments. If someone can't assure the loan giving companies or bank about their payback method then the permission and money cannot be given. So either ask someone close to finance you or get a job soon, as without the job there are very less chances that any company would give you a loan.
Usually lenders ask for continuous employment of 2 years to approve you a mortgage loan. But, right now, since you don't have any regular income, chances are quite high that your mortgage loan application may get rejected.