Senior Loan Officer
Sterling National Bank
If you have a substantial down payment you can look into hard money lenders. Even with a low income you can usually qualify for something, unless you also have a lot of debt. If you want, give me a call. I know many bankers and I can see if one of them can help you. Either way, good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
If you have been seeking a loan through Bank of America, Chase, Citi or Wells Fargo, a rejection most certainly could be expected. You need to work with lenders who are actually lending to support the local economy. These local lenders DO provide loans to small business and citizens through mortgage loans.
Check with a local credit union. They are liberal with membership eligibility, have super low closing costs and have more flexible standards. If this does not appeal to you, then you can select a "A" or "B" graded local lender who has a history of investing in the community. Simply enter your zip code or city name:
Now, if income still remains the issue, you need to determine home much income you need then set the stage to increase your income. As Javier suggested, you may also seek a co-borrower.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, FL