Mortgage for Self Employed??

Discussion in 'Credit Talk' started by ScoreBGood, Oct 12, 2002.

  1. ScoreBGood

    ScoreBGood Active Member

    Hi All!

    Hope someone out there can help.... I am thinking of trying to get a mortgage for new home or construction loan BUT I am self emloyed and get a 1099. I don't want to use Tax returns but maybe bank statements or 1099 from company I am a representative with....anyone know a company that will work with me?? Scores not that great either

    Thanks!
     
  2. TedTX

    TedTX Well-Known Member

    It's called a no doc mortgage but you need a good credit score.
     
  3. dogboy

    dogboy Member

    I just financed a home in the same situation that you are in. I got a stated income loan for the loan that I bought. I did put down 25% of the purchase price w/no points.
     
  4. fla-tan

    fla-tan Well-Known Member

    ScoreBGood

    There are a few programs that fit the general criteria that you mention. However, without alot more info I can't make any suggestions. What type of scores are you saying you have and why are they there? How long have you worked for the company and how long have you been doing what you are doing? Those are the major areas that will need to be addressed. If you don't wish to provide the info on the open board, then you can email me if you wish.


    fla-tan
     

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