Profile picture for Diana cory

I hear no doc loans are a thing of the past. How else can I buy ?

I bought my last two homes that way and do not know if I can buy now ?
I have very good credit ( do not know the score).
I am told I do not qualify for FHA ( by a realtor) .
I want to sell my house and buy a inexpensive condo ( approximately $50,000).
I can put maybe $20.000 down .
Is there any hope to do this ?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 05 2010 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

You may be successful working directly with a bank.  With excellent credit, the only limitation I forsee for you is limited downpayment (you might need as much as 10%); if you are buying in an association that is eligible for a conforming loan.  We offer condo spot approvals so even if the condo you want to buy isn't already on the approved list, we can review the association.

please call or email me if you'd like me to review your situation.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 05 2010
Profile picture for Diana cory
Thank you. I do  document my income but it is only about $37,000 a year. I made a mistake saying $20, 000 down, I meant $2,000.
Big diffeence I know.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 05 2010
Profile picture for wetdawgs
If you can't document your income today, there are several ways to buy:

a.  If you are self employed and your deductions wipe out your income, go back and redo your taxes for the last couple of years.  

b.  Pay 100% cash.

c.  Find a hard money lender and be prepared to pay a higher than market interest rate.

d.  Or, document your income (on tax forms) for a couple of years and go the more traditional route.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 05 2010
 
Related Questions
Zillow Mortgage Education Center
  • Asked by AndreaSmolin
  • In Mortgage
  • June 07 2013
Under 600 Subprime Mortgage
Profile picture for Tim1983
Latest answer by Tim1983
10 minutes ago | 3 answers
Why is 4 Windsor Dr Conroe TX 77304 listed as a foreclosure?
Profile picture for Jainy S
Latest answer by Jainy S
37 minutes ago | 1 answers
  • Asked by nanasmith39
  • In Mortgage
  • 1 day ago
Can I switch lenders after making an offer?
Profile picture for Mike Suffoletto
Latest answer by Mike Suffoletto
41 minutes ago | 9 answers
Does my wife need to pay tax if she gives me fund as a gift for down payment?
Profile picture for Gregory Conlin
Latest answer by Gregory Conlin
1 hour 4 minutes ago | 5 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

 
 
 
Sign in with Google