Financing in 33483>Question Details

Garagesalesh…, Home Buyer in Lantana, FL

i have a small business but i don not show income i have been renting same condo for 3 years paying $ 1750/month. i need to buy a small house 30k

Asked by Garagesaleshop, Lantana, FL Fri Feb 17, 2012

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Let me get this straight, you are paying rent of $1759 per month but you are not paying taxes? You are not entitle for financing if you don't pay taxes.
1 vote Thank Flag Link Tue Feb 21, 2012
Because you do not show income, you fit into the category of cash buyer. If you plan to get a mortgage in order to purchase a home , you will have to show some kind of income, and you may want to talk to a mortgage broker.

If you are looking for a house in the $30,000 range you will probably want to find a foreclosure somewhere in the area that requires some fix-up.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
Web Reference:
0 votes Thank Flag Link Sat Feb 25, 2012
Annette, THUMBS UP! Well said.
0 votes Thank Flag Link Tue Feb 21, 2012
Ann is correct, most loans are North of 50,000.

Now if you lived in small condo paying 500 a month, you could have 30,000 in no time.
0 votes Thank Flag Link Sat Feb 18, 2012
If you haven't been documenting your income, it will probably be difficult to get financing. (Actually, it's going to be difficult to finance a house for only 30K anyway) Do you have enough cash on hand to buy the house at 30K?
0 votes Thank Flag Link Fri Feb 17, 2012
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