Getting financing for a foreclosed home is a bit tougher than getting it for a home that has not been foreclosed on. But not that much harder. This article covers your options.
Qualifying for a home loan with bank statements only is an option available only to people whose income is not from wages. The income on business taxes is not always a good reflection of how well a business (freelancer, contractor) is doing.
This article is meant especially for first-time home buyers chasing the best mortgage loan. It will explain how lenders qualify people for a mortgage loan and show that for many the amount they qualify for is too high for them.
Qualifying for a home loan with bank statements only is an option available only to people whose income is not from wages. The income on business taxes is not always a good reflection of how well a business (freelancer, contractor) is doing.
USDA home loan house requirements are common-sense based. The goal is to put a family into a safe and structurally sound house. Here are the requirements:
