We have 170k cash, wish to buy a home which costs 500k, all banks we have attempted have been requiring 30% down for this sort of loan. Seems crazy. Any alternative options out there? I am impoverished and my father is self employed.
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{ 2 comments… read them below or add one }
That would depend on your credit reports, what the scores are and what kind of profile you have that makes up your scores.
For anyone today to be approved without proof of income their scores will have to be at least 740 and their profile will have to be perfect.
All that is required if your self employed is your last 2 years of income tax returns complete with schedule C and you should be fine. That is as long as the figures match.
My Wife and I both have scores well over 800 and we refinanced our home a year ago this month and I still had to prove my income.
And please whatever you do don’t pay any attention to any offer you see here they are all scams.
Your post is somewhat funny as 170-k is more than 30% of the 500-k you seek,,,