Financing in Grafton>Question Details

Kz, Home Buyer in 30014

We have been trying to buy a home forever! One thing after the next has stopped us BUT primarily the too high

Asked by Kz, 30014 Thu Dec 25, 2008

home prices kept us on the sidelines. Now prices seem back down to earth a bit BUT my spouse is self-employed. Has been for the past five plus years. He has excellent credit scores and credit history. 700 plus but ther seems to be a freeze on no doc or low doc loans. And many of the homes here in Vermont that we can afford need some rehab. Is there anyone out there that can help us? Please let me know.
Thanks.

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Your best bet is to meet with a local and trusted mortgage broker. stay away from the internet lenders.... a goo dloan officer can prequailify you at no cost and let you know if there are any programs you do qualify for based on your income, credit score and self employeed status. it is the only way to stop guessing and know for sure. good luck in your search
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Thu Dec 25, 2008
No doc, stated income is a thing of the past. Lenders need proof of income, foreclosures usually are distressed due to former property owner did not have enough disposal income maintain property. HOWEVER there are exceptions to rule.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Thu Dec 25, 2008
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