How to buy a house with a large loan, but little income.?
I try to move to Colorado and buy a house. But I am sure I am not able to get a mortgage on my own, but I have not tried. I have really good credit of 735 without negative against me. However, I have only 10k of verifiable income. I own a house in Iowa, which is valued at 48k, but worth a little more through numerous renovations and worthwhile. Paying a mortgage would not be a problem because I have all the guests to bring in 700 per month with my current home and another 300 in rent would have fed into the house in Colorado, but I do not think it helps a lot to get a loan to buy. The houses I’m looking in the range 50-75K and I had to put in place down to 20k. I get a cosigner by wish him a financial incentive to work, but the backup plan if the do not work. Does anyone have ideas on how I did it happen? thing Lease-type home on your own security, etc.? Any suggestions would be greatly appreciated as I am currently only in real estate. Thank you in advance!