So I’m looking to buy my first house in Newark NJ. Now I’ve never bought a house before ,
And I don’t make any income at the moment
Will the bank approve me for a loan ? Do I need to have income so they approve me ? Does the house itself not count as good enough collateral for the bank ? How about a hard money loan ? Is there pros and cons for going with a hard money lender ? Do they approve easier? Do I end up paying more ?
Should I wait till I have a income?
Anyone with even a answer to a few of those questions please be so kind and help me get started