Home Buying in 33434>Question Details

Bucksterbob, Home Buyer in 33434

I am interested in purchasing a home for under $300,000 with 10-15% down. I am self employed with a 665 score

Asked by Bucksterbob, 33434 Tue Jun 30, 2009

and my wife has a score of 730. I had identity theft 3 years ago and my score went from 800 down to 570. I am looking for owner financing as i cannot show enough income and there is not stated income loans at this time. Where is the best place to find owner financing or stated income. We are interested in a 3-4 bedroom pool minimum 2300 sq ft.home between North Lauderdale and Boca?

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7
Sorry lol dident notice the date of that post
0 votes Thank Flag Link Thu Feb 14, 2013
Hello,
Would this be a homestead property? If your wife is employed you can combine both incomes. You can also get a FHA loan and put down 3.5 percent, considering your debt to income ratio is above 55 percent or so. "Hard money" is not cheap, high interest rates, and in most cases 50 percent down.
But there is good news. As Jennifer stated she is correct, there's plenty of seller financing to Take advantage of. Just Have your realtor do some homework, make some phone calls and they will find something nice for you.

Best Regards

Anthony Mannarino

Douglas Elliman Real Estate
0 votes Thank Flag Link Thu Feb 14, 2013
Dear BucksterBob,

I'm sorry to hear that you had your identity stolen...terrible! I work with a hardmoney lender...and he will tell you what you will be able to get and cannot get:

Emmanuel, 561.400.7317

My suggestion is to find a Realtor who can serach your criteria for owner financing.

Best,
Jennifer Sommers
Web Reference: http://www.AgentBoca.com
0 votes Thank Flag Link Tue Apr 12, 2011
Are you still looking? I have a great listing for you. http://www.ashpon.com
Web Reference: http://www.ashpon.com
0 votes Thank Flag Link Wed Nov 11, 2009
Even if you are self employed, you can use your tax return to show your income. Also, you didn't mention your wife's income. With scores of 730 and 665 and 10-15% down you should still qualify for several types of loans. In addition, I am assuming you have written documentation of the identity theft which should help.

Linda S. Cefalu
0 votes Thank Flag Link Tue Jun 30, 2009
Hi Bob,

Give me a call. Let me know a little more about what you want to have in a home. I'll do the research and find you some homes with owner financing. As the market has changed over the last 3 years I'm see more homeowners/sellers saying they will give owner financing.

Nadine Mauro
Regency Realty Services
561-414-0864
NadineMauroRE@yahoo.com
0 votes Thank Flag Link Tue Jun 30, 2009
Hi Bob,
I still do have one investor that has stated income please give me a call to discuss.

Melissa Antenucci
Ameritrust Mortgage Assoc
561-417-9221
0 votes Thank Flag Link Tue Jun 30, 2009
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