If your income is irregular and you have NOTHING or LITTLE to put down, then you are not ready to buy a house.

Save up a good down payment, THEN think about buying a home.

100% financing is not a very good idea.

first of all you need a 680 score and you must be able to show at least 2 years stable income! youll need bank statements and tax records.

you also must be able to show you can make the payments

try directlendingplanet they are based out of florida. if it can be done they will tell you asal

http://www.directlendingplanet.com

First issue is this: By opting to underreport your earnings, you have kind of put yourself in a bind. Your returns would still show the income if they were truly deductions.

My guess is that you are earning money “under the table” and that you are not using banks so you don’t have to report the earnings.

The problem with this approach is exactly what you are experiencing. I am not judging here, but pointing out that by bending the rules of the system, you automatically set yourself up to have to live outside it.

I am also guessing that you are single, and younger than 25, since you do not appear to have sufficient credit information for a bank to approve a mortgage without more than your tax returns show.

That being said, I will tell you flatly, because of the high-risk mortgage industry problems right now, and because of your lack of supporting evidence to justify a mortgage through the lenders you have been working with, a low-money down to no-money down mortgage is NOT in your near future.

It sounds kind of harsh, but you have to be realistic. Why would a bank give a $100,000 plus mortgage to someone who is self-employed without sufficient assets to justify the loan as collateral?

If you had a friend who asked you to loan him $1000, and you knew that the guy would not be able to save $1000 to pay you back, would you loan him the money? Maybe. But as a business model, it does not work.

My recommendations:
1. Find a cosignor (a family member, or business partner);
2. Take out a small loan to build up your credit history;
3. Put some of your “unreported’ earnings into the bank to show that you have earned the money…paying some of it in taxes in order to get a mortgage is totally worth it.

If I have misunderstood your tax reporting, I apologize, but if I have not, you should belly up to the bar and pay your share like the rest of us.

you want a 100% home loan with no documention and your tax returns show little income, in todays market ?

good luck buddy

I applaud Glenn J, he took the time to explain a scenario that is the main cause of the current market conditions. A loan with 0 down, and high fee’s, with high rates, is a consumer nightmare, and a mortgage brokers heaven. so, report all year earnings, pay your bills, save your money, and apply for a low cost low rate affordable mortgage, it may take 2 years, but the sooner you make a game plan, the better off you will be, come the future.

Unfortunately you will not find such a loan right now.