Mortgage for owner operator for house??

Discussion in 'Ask An Owner Operator' started by Chris50, Mar 2, 2013.

  1. rickybobby

    rickybobby Road Train Member

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    If you have good credit. You don't have to show proof of income.
     
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  3. Chris50

    Chris50 Medium Load Member

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    Not true, my credit score is well into the 800s and i most definitely had to show proof. They wanted my last 4 settlements plus a list of assets.
     
  4. rickybobby

    rickybobby Road Train Member

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    My bad... I thought op was talking about getting a truck
     
  5. blade

    blade Heavy Load Member

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    I know this is old but curious as to why you couldn’t use your va loan?? Was it because you needed her income???
     
  6. Ruckie

    Ruckie Road Train Member

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    Oh that was 2 years ago..... I got good advice and bought another house...
    1. Open a company
    2. Get a good accountant that will separate your assets from business and get a w2 from your business.
    3. Report good w2 income for 2 years that's all I needed
     
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  7. 77fib77

    77fib77 Road Train Member

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    I was told you need 2 years of 50k reportable to get a house.
     
  8. Ruckie

    Ruckie Road Train Member

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    Yes 2 or more years of 50k should get you a home mortgage with no problem
     
  9. Accidental Trucker

    Accidental Trucker Road Train Member

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    Typically (unless you are disabled), VA loans carry the highest fees and the highest interest.

    Conventional loan is less expensive.
     
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  10. FlaSwampRat

    FlaSwampRat Road Train Member

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    I can second this. When I bought my house I thought the VA loan was gonna make everything great. It turns out that a conventional mortgage was MUCH cheaper.
     
  11. Ruckie

    Ruckie Road Train Member

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    I'm not disabled and I got a 3.75 with no points last summer no mortgage insurance etc for a 175k home custom built I only pay about 700 plus taxes etc all included I pay 925 a month
     
    dwells40 Thanks this.
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