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Updated over 14 years ago on . Most recent reply

User Stats

149
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57
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Steve Smithy
  • Boston, MA
57
Votes |
149
Posts

How can I buy?

Steve Smithy
  • Boston, MA
Posted

I am trying to buy a 2nd home, but the banks won't lend to me. I can clearly afford the building, have a great score, have enough to put down, etc. The problem is that I switched from being an employee to being self-employed last year, and banks don't want to lend to me because of that (since they can't sell the mortgage). I found the perfect property, and I'm afraid that in 2 years when I have enough history the deal will be gone. I tried 2 separate banks that told me they would hold the paper, but neither wanted to lend and said it was the self-employment history that was the issue.

Any ideas on how I could find financing for this?

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