Can I buy a home with what I have?

[bloodusmc]

What is the name of your state (only U.S. law)? NJ

Can I buy a home with what I have?
Hello I am trying to buy a home but I am not sure if I qualify.
Here is what I have.
20% of the home price that I can put as a down payment.
Credit Score: 630.

One problem is I can't prove my income.

Can I get a home with the information above.

[FlyingRon]

Originally Posted by bloodusmc

One problem is I can't prove my income.

With a reasonable downpayment you might get a nodoc loan, you'll need to call around. What exactly do you mean by "can't prove my income?"

[HomeGuru]

Originally Posted by FlyingRon

With a reasonable downpayment you might get a nodoc loan, you'll need to call around. What exactly do you mean by "can't prove my income?"

**A: I am not aware of any conventional lender today that offers no-doc stated income loans.

[nextwife]

Of you can find someone who owns free and clear, and is not living in the property, with 20% down, they may agree to sell on a land contract (that's how I bought my first place). If you DO go that route, get a vendee's title policy, use an attorney, and make sure the LC is recorded. Another option with a F&C house, is the seller taking back a mortgage. Same cautions apply.

[HomeGuru]

Originally Posted by nextwife

Of you can find someone who owns free and clear, and is not living in the property, with 20% down, they may agree to sell on a land contract (that's how I bought my first place). If you DO go that route, get a vendee's title policy, use an attorney, and make sure the LC is recorded. Another option with a F&C house, is the seller taking back a mortgage. Same cautions apply.

**A: yes, I agree with this alternative financing method.