Stated Income

Hello there. I would suggest you go into a LOCAL mortgage brokers office and sit down with them to go over income and credit. when you receive tips, etc. we need 2 years of income tax returns to verify, which you say you have. You may be able to go FHA as long as you qualify.

In your case, income doesn't seem to be the big issue. You don't need a 9 to 5 job to buy a home. Plenty of people are bar tenders, waitresses, etc., who all buy homes. We would generally take your past two years W2's to average your income, and then look to see if current year-to-date income supports that average. Any non-reported cash tips would not be included. My bigger concern is your poor credit score. That score will cause you to have very limited options. But most people can get their score up in short order with a little knowledge and time. I suggest contacting a local mortgage broker who does FHA loans. For this situation in MN, WI, and SD, visit me at www.Minneapolis-Mortgage.net

You need to contact someone (like me).. who can analyze your complete loan profile.. if you file taxes and you show over $74K, the we would qualify you on the last 2 years taxes.. no w2's are needed.. but with little to no credit yet your score is 589, there's something not right.. I'm here locally right off FLW and Loop 101.. feel free to reach out to me anytime.. I can look at your scenario and you'll know exactly what you can qualify for.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893