I was wondering what the environment is like for getting a lower value loan.
I’m looking for a loan for slightly less than $50,000.
There are some aspects I should be ok with and others that might be more of an issue.
My credit is ok, at around 730.
Just a small amount of debt for a loan that I had to cosign for my mother, of $3000.
I have the down payment of $10,000
I have cash reserves of at 6 months +
I want to purchase a property in a different state than my current residence (Live in California, property in Nevada)
Since it is in a different state, it will have to be loaned as a second residence (at best)
I can verify my employment and income through my employer and pay receipts, but I don’t have any tax documentation from previous years.
Like I said, there are things in my favor and things against. So, who should I approach or how should I go about looking for a home loan?
If any other information is needed, let me know and I’ll do my best to let you know.