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first time home buyer looking for a streamline 203k rehab loan in sc, also a realtor!

Is there a loop hole for me to get around the two year self employment to get the fhs 203k streamline rehab loan, i have multiple incomes!

I work as a private investigator- self employed

Real Estate broker self employed

Titanium solutions

My question is if I get another NON self employed job and work a month or two, would I then qualify for a loan? There is a house i can get for 30,000 and put the 35,000 rehab loan in it and it would be worth double easily because of the loacation!

I have copies of my 2008 paychecks! And income! I really really want this property before someone snatches it up! Is there any thing I can do?

Jason

Posted by Jason Robu on 01/05/2009 06:25 PM

Comments (2)

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This post has been included in South Carolina Information

2 Comments on first time home buyer looking for a streamline 203k rehab loan in sc, also a realtor!

JAN

Nothing that we Residential Mortgage Bankers can do that I can think off...but there are lots of "Hard Money" lenders circleing the waters out there. Be careful. What about just applying for a line of credit from your local bank....a note loan...not a mortgage.

what kind of loan amounts can u get on that!!!! Def not doin a hard money loan! What kind of credit score do you have to have for that?

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