You just need to qualify for the loan based on the normal debt to income and other standard requirements.

Each has a different skill set, level of education, level of maturity, varied experiences, common sense, drive, motivation and capacity to learn.

It will be some time before attorneys can determine the scope of compensating factors for qualified mortgages or higher priced loans.

If they then tell you about extraordinary circumstances you can decide if you want to accept it or not.Paying bills and being responsible is a basic life skill and I don't have time to deal with people that can't function on their own and need me to babysit them.

There are a few criteria in order to qualify for HAFA.

Our plan is to do most of the rehab ourselves and with help from qualified friends which will help us cut some costs but exactly how much, we don't know yet.Thanks again!

If you are lacking in one or more of these areas, finding a property that will allow a positive cash flow will be a lot harder as fewer properties will be able to qualify.

In theory you should qualify to obtain this loan out in this example but I've never had anyone who had no income source or other properties except for the subject rental in question.

You won't know what you qualify for until you meet with your lender.Nothing motivates an agent more than finding a pre-approved (or at least pre-qualified) lead.

You don't need to worry about their credit or income because he already qualified for that stuff on his own.Just my 2 cents, plus interest.