Self Employed and need a mortgage.?

I have been self employed for 11 years. I spoke to a few lenders and they all tell me that no one is doing stated income loans anymore. 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... show more I have been self employed for 11 years. I spoke to a few lenders and they all tell me that no one is doing stated income loans anymore.

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
Update: Oviously average joe doesn't get it. I have 2 jobs allready! I deduct alot to avoid being heavilly taxed. Therefore, my adjusted gross income is lower than my actual income. Anyone that has ever been self employed will have a clue as to what I am talking about. I am stressed enough as it is, I don't need... show more Oviously average joe doesn't get it. I have 2 jobs allready! I deduct alot to avoid being heavilly taxed. Therefore, my adjusted gross income is lower than my actual income. Anyone that has ever been self employed will have a clue as to what I am talking about. I am stressed enough as it is, I don't need some average joe pretending he knows what the hell he is talking about!
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