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Calling Charles!!!


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OK... here's the situation.

In Buffalo NY

Need to do a stated income no doc loan ((Hubby has HORRID credit.. mine is slowly improving. I am self employed and he has income as well. But only 1 tax year for showing self emloyment)) We want to do the mortgage in my name until we can refi after 12 months. Income level is 27,500

Credit scores around 590s... ((Fakos were 619-604-594))

House is 59,000... Seller is willing to do a 10% second so we don't have to come up with 10% cash down might be willing to go higher ((If we cant get a 100% loan)) She is also willing to make concessions. Might be able to get the house price lower as well.

Have about 1-2k for costs etc... Seller is VERY MOTIVATED to get out of this house.. she lives out of state and doesnt want to rent or have house during the winter.

We have not been renting but living with relatives.

Debt to income is very low.. only 2 credit cards and the rest are student loans.

1 car loan paid off... has been since 2004.

We don't mind having to pay a larger interest rate((dont mind going as high as 11 if the price of the house is right)).. I know that's going to happen. At this point we want payments no more than $650 a month.

We have also looked at a few homes that are in a more rural area.. very nice homes for 35,000 range.

#1- Do you think this is possible for us to get a mortgage.. for either the 59 or the 35k??

#2 - Are you licensed in the state of New York?????

Please let me know

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