So my current situation is I am unemployed and homeless however I'm looking into something called house hacking with a four Plex now what I do have going for myself is that I'm prior military and I should qualify for a home loan with no down payment my concern is that I will not get financing because I am not working I will start working soon at the post office at $17 an hour is there a way around the financing part is there another route I can go because I do not want to be homeless ever again and I'm looking for a way that me and my little one can live without paying rent which would help our lifestyle a lot
Hmm, talk with a lender and ask. With a VA loan they'll want 2 years of stable W2 (job history) and proof of future employment. VA is 0 down, but you still have to pay for appraisal and some other closing costs so it's not really 0 down unless the seller pays for your closing costs.
@Quiana Joseph there is a lot in your post. A lender will ask how long was your job gap, where you discharged honerably from the military (to be eligible for a VA loan), what is your credit like, and how much do you have saved for your closing costs. Please do reach out to a lender to see what your right action plan should be to qualify. Thanks!
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