Self Employed and need a mortgage.?
Here is the deal, I made $52,000 last year and my mid scores hover right around 600. I do not have thousands of dollars in reserves in the bank. and I do not have any cash to put down.
I was told to try ot get my scores closer to 700, but what good will that do if I still don't have a down payment and no bank will help me because my net income after deductions is under $20,000.
I am getting so sick of making good money every year and having decent credit and still not being able to buy a damn house. I dont want to rent forever and move my family every year when the lease expires.
I want someone with mortgage experience to tell me what I need to do. Will I ever be able to buy a house or do I have to rent forever?
BTW: I do not have a co-signer