Mortgage for owner operator for house??

Now i know it is BS .You say banks don't think your credit score is that important ? Really ? And banks know every one took a hit ? Not every one took a hit and that's the one's who get $$$$ NOT the ones who "took a hit " and have low credit scores

 

Think what you like...............

With a USDA loan its a goverment program; as long as you meet THEIR guidelines it's GURANTEED financing, most of the time 100% as in NO MONEY DOWN and NO CLOSING COSTS,

But once again, you show you know nothing other then what you have heard

 

Well I'm a novice at real estate, actually the 3 transactions I had were the first I ever had as I was the executor of my Mom's will, a learning experience indeed. To me, 1 month (your words) is a huge chunk of time. Second transaction, the lawyer representing the buyer was late by 1/2 hour for our meeting. I'm used to making my deliveries on time, I expected the same from the "professionals". H$$l, the bank took 3 weeks to get comps for the property I was buying.

To the OP, sorry about the HiJack.

 

Well a month is not a lot of time . I bought a house that was from will and it took close to 6 months between probate and getting the bank with all paper work plus 4 owners had to sign off . I bought another from private owned i got bank loan and it took 3 weeks start to finish .. I just bought one cash and from offer till close took 10 days could b done in about 3 days if need b . So it all depends on what needs to be done . And right now the banks have so many houses with nobody paying for them they are being real careful about who they loan to and make sure Tees are cross and i's are dotted

 

It is not what i "heard " i am in the business .There are very few loans with no $$ down .I said few not none and some with 3% down . THERE ARE NONE WITH NO CLOSING COST .

 

When I said "No closing costs" I meant as in no out of pocket money, it's financed in with the loan; as is everything else. Apparently your not familiar with a USDA loan; must not have been

very long...............

 

Try saying what "you mean " First and you won't have to b correcting yourself . You sound like a fool who thinks he is getting something for nothing because they include it in the loan . When all is said and done you pay 20 times more for what was "no closing cost " .

 

I used Northwest Savings out of PA.I am in NY..They were one of the few left with ''no income verifacation''...I had to have a credit score of 750 or above.I had to have 20% down..The kicker was i had to pay 2% more than the normal 30 year mortgage.I also did a 20 year..I was very fortunate to get this as a self employed trucker...I showed not one peice of ''income''...

You may want to give them a call...These loans are called ''no income verifacation loans''...

 

What year did you do that loan ?

 

I sold one house and then i was not thinking.I said oh ####.The reason is because on ''paper'' i am poor.If you know what i mean.

So any ''income verifacation'' i was dead in the water.I was ''cash'' rich..So i went on a hunt and found these people..I did it last year on this beautiful home i have now..My interest rate is a bit high at 5.5%.I toss extra payments every year to bring it down,so i did not care..I am at 10 years left on this 100,000 home...

Give them a call and ask if they are still doing the ''no income verifacation loans''..You need to act fast,these loans are getting harder to find by the day.Like i said.All you need is 20% down and a credit score of 750 or above...Simple...