Perfect Credit but Minimal Net Income, Can't Get a Home Loan. Suggestions?
Want to buy the farm I currently manage. It is within my price range as far asmonthly income vs expense goes and I have at least enough of a nest egg for 10% down. But stated income loans do not exist anymore apparently and from a tax return stand point I do not qualify for traditional home loans. Small business loans seem to be at most 60% loans in my area as well. Suggestions other than hitting lottery or finding sugar daddy/mysterious benefactor? Family isn't able/willing to help but business here is booming and I want to ensure it stays that way.
"Gallop as if you were to die tomorrow, jump as if you were to live forever."
It is in a USDA zone? Those loans are great for minimal $ down. I just closed on one at the end of September. I think you need to find a good independent broker. They'll know everything that might be available for that property.
Flip a coin. It's not what side lands that matters, but what side you were hoping for when the coin was still in the air.