Posted by C. Ryan Schadel on May 23, 1999 at 21:21:24:
Unfortunately, no conforming lender will care how much money you make if you don’t have a good credit score. You will have to get a loan through a broker or non-conforming lender which means a higher rate or higher fees. Your mother(if she has good credit) can get a No Income Verification (NIV) loan through a good broker. The rate will vary from 8.250 to as high as 11.25. Different brokers have different stipulations and requirements. It sounds like you are on to something good and I hope it works out. If you have any other questions, you may call me @ 706-790-6622. I’m in Augusta, GA. The above # is my work number. I rarely check my email.Good Luck!