Investor · Wasilla, AK · Member since 2016 · 160 posts · 78 votes
9y
@Tracy Springfield, let me search around real quick. Have you also been in contact with a lender? If not, I have a few you can call. If you are willing to go east, a lot of Forney, Heath and Heartland homes qualify for USDA loans, which means you get a loan at 0% down. Give me a call if you have questions
Investor · Wasilla, AK · Member since 2016 · 160 posts · 78 votes
9y
@Tracy Springfield, let me search around real quick. Have you also been in contact with a lender? If not, I have a few you can call. If you are willing to go east, a lot of Forney, Heath and Heartland homes qualify for USDA loans, which means you get a loan at 0% down. Give me a call if you have questions
Lender · Fort Worth, TX · Member since 2016 · 15 posts · 11 votes
9y
@Tracy Springfield have you tried having a lender qualify you on your tax returns? Mortgage lenders use a different type of qualifying income know as "cash flow" when calculating a self employed borrowers income out and the W2 is only a part of it. The lender will need the last 2 years returns (personal and business) and an recent P/L and Balance Sheet to calculate it out correctly. You might be pleasantly surprised on what they come up with. PM me if you have more questions or want someone qualified to review.
Dallas, TX · Member since 2016 · 17 posts · 3 votes
9y
the problem is my accounting person is very good at showing a loss even though we pay $3500 a month in rent, we will need a couple of years to make everything look right for a lender. I just don't want to throw away $3500 a month for 2 more years.
I thought if someone had a house they wanted to sell perhaps we could work something out. We have never been late with rent and credit is great.
We can't live on the east side of Dallas because the office is in Grand Prairie and I have to stay in Dallas county for child custody reasons.
Real Estate Investor/Broker · Irving, TX · Member since 2015 · 520 posts · 263 votes
9y
She's looking for a seller financing situation.
My mortgage broker has some rentals in those areas he's looking to turn into notes. DM me with your timeline for moving.
Lender · Colorado Springs, CO · Member since 2016 · 11 posts · 4 votes
9y
Hello Tracy, you might also look for a lender who qualifies on 24 mo bank statements. Would your statements show good income? You would have to source deposits for those two years, but if it works, it would be worth that hassle!
Jack of all trades · Fort Worth, TX · Member since 2015 · 20 posts · 12 votes
9y
@Tracy Springfield I may have something for you in Grand Prairie. Has pool. Clean. Brick. Purchase price is $210,000. Is livable but needs to be brought back from the 70's. Let me know if interested.
Dallas, TX · Member since 2016 · 17 posts · 3 votes
9y
Originally posted by @Account Closed:
@Tracy Springfield I may have something for you in Grand Prairie. Has pool. Clean. Brick. Purchase price is $210,000. Is livable but needs to be brought back from the 70's. Let me know if interested.