Updated over 17 years ago on . Most recent reply
No money down, stated income, 760+ midscore.. what can I do?
As the title says, I have no money to put down (can scrounge up maybe a grand), would have to go stated income, and have a 760+ midscore. i just had a brand new home built, about $165k..... what type of investment opportunities are out there for someone like me? I was wanting to buy a rental property, but not sure if I can qualify for financing with my criteria.
Also, there is a good chance I will be starting up a business(car dealer) in the next few months, so I don't think buying a property so recently will look good when it comes to getting a business loan. Can I start up a seperate business that invests in real estate, and obtain a business loan for down payments, closing costs, etc on investment properties? When obtaining a business loan for a new business, do they base credit off my personal credit, or would they only be able to use credit established by the business itself(which would be none, since it's new)?