I was told that if I put 30% down on a 3 family house, I do not need to show any documents ( salary )

Asked by Shahin, Elmhurst, Queens, NY Tue Jul 22, 2008

I want to purchase a 3 family house, given the curerent market situation, i was told that I can put 30 percent down and I will not need to show any wages or salary. I make $65,000.00 yearly and the cost of the property is $875,000.00. Is this accurate ?

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Antolin Du B…, Other Pro, New York, NY
Sun Aug 10, 2008
You must be an awfully good saver, and eat lots of Raman. Please show us how to do the same.

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Gail Gladsto…, Agent, 11743, NY
Tue Jul 22, 2008
I think most lenders are shying away from "no docs" loans. 30% is a good downpayment, but please contact a mortgage broker for accurate information on this.

If you need a good recommendation, please contact me off line at Gail@GailGladstone.com.
Web Reference:  http://GailGladstone.com
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