How Can a Student Raise Capital and Get a Mortgage?

[Clayton J.]

Hi BP,

Across the street from my sister's house is a home that is on the market for a very good deal. For the asking price, I believe that I could easily clear the mortgage payment (and other payments) with the rent and could afford the costs until it is rented out using money I've saved up from working in the past.

However, the problem is that I'm currently a senior in college and due to my class schedule I've had a hard time finding a job that would work with me. My credit is pretty good (760+ FICO score using both installment and rolling credit) but obviously the part about being unemployed is going to make it extremely difficult to get a loan through traditional routes. Also, using family and friends is a very unlikely route.

So my question is, how could someone in my position raise the capital and obtain a mortgage on a home? Is it even possible?