Looking for mixed-use property mortgage lenders, when you're dealing with 1-4 unit buildings is the wrong way to go about it. The reason? There are many lenders that offer such loan. The problem is that there are not many programs with great interest rates. Here are 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.
The draw-backs of USDA Mortgage Loans, compared to FHA especially?
The debt-to-income ratios cannot be more than 29%/41% (FHA’s DTI’s are 47%/56%). In other words, the same income buys more house under FHA than under USDA programs (occasionally, a lender will over-write these limits… due to great credit or lots of money in the bank).
Credit scores must be 640 or higher (middle credit scores, that is).