I’ve got great credit, but every lender I talk to tells me that I don’t have enough income to qualify for a loan. I’ve asked about “stated income” loans, but they tell me investor stated income loans are so expensive it doesn’t make sense to use them. There have always been no money down “gurus” out there that claim they can do no credit, no down deals. Does anyone know if this is really possible and are there any good “free” resources for this information? :help
:banghead
I am no expert in any regard, but through my education process I’ve heard time and time again you should locate the small LOCAL banks in your area and try them. They are more flexible. If that fails you’ll have to look for hard money lenders or find some private investors to fund your deals.
Hope that helps some
Dremen,
First of all I will say this. Great credit is just the beginning nowadays. You still need to have income and assets. With that being said perhaps you would benefit from talking to lenders who specialize in investment properties. Go to a local REI meeting and ask around for recommendations. Their are several who frequent this web-site as well who may be able to help you.
Once you have your income situation figured out then it all comes down to finding and buying at the right price.
Where do you live and what are you trying to buy?