What kind of loan do I need? owner-occupied, no-doc
I need a loan to finance a home that will cost $80-100K. I can put 20-25% down. I'm looking for a no-doc loan but don't know exactly what kind of lender and loan I should be seeking.
I do not qualify for a traditional mortgage. I am self-employed but did not make enough to file taxes in 2015, so I can't provide tax returns, W-2s or pay stubs. I need a "No Income Verification" loan. My credit score is about 700. I do not think that the properties I am looking at would qualify for a traditional mortgage anyway, as they are slight fixers / cabin-style properties.
This would be an owner-occupied, residential purchase for my own use. I might rent it eventually, but it's not a typical fix-n-flip or investment scenario, and I would need more than 12 months to repay the loan.
What are my options? I have read about hard money loans, but most seem to be 12-month loans for commercial investment only, not owner-occupied. Do I need a private lender? A sub-prime loan? I have also looked at sites like prosper, upstart and lending tree, but they all seem to require more income verification than I can provide.
With a pretty good credit score and a need for only about $60-80K, where can I find a no-doc loan to finance this purchase? Should I work with a mortgage broker?
The properties I am looking at are in California and New York.
Thank you for your advice.