Buying a house with no job?

Question

My husband just found out that he is being discharged from the army medically discharged. And he will be getting a severance pay at like 75,000 could we if we found like a manufactured home or something to that nature and we were going to pay cash for it would a seller sell to us say if it sat in a park or private land?.Even if we don't have jobs? Of course we would find jobs and such so we could pay other bills and so on.

Answer 1

If you have cash and don't need loan, you can buy whatever you want.  

If you want something better than a trailer, I HIGHLY reccomed renting for 6-12 months and LEARNING ABOUT HIS VA LOAN.  When I capitalize that I REALLY MEAN IT!  He needs to LEARN ALL THE INS AND OUTS!  People are really s******g themselves on the old VA because they aren't learning ANYTHING about it.  It's a great opprotunity, it gives you guys a chance to get jobs while you learn and get into a nice home, not a trailer.  I say, learn about your options before you jump on this easy, but not-to-good choice.  Chances of your trailer appreciating and being able to sell it for a tidy profit are not good.  Take the time to learn a little something, and buy something that you can sell for a profit later.  Get jobs.  Don't rush.  Too many people think that buying a house not a big deal, like buying a new chair at walmart- they are WRONG and the fact that they haven't educated themselves and/or haven't read their contracts is why there are SO MANY forclosures right now.  Take some time, get educated, get a nice home.

Answer 2

If you pay cash, nobody cares if you have a job.

Answer 3

With 20% ($15,000) down , you can buy a home and the lender will ask very few questions.  THey know that you will never walk away from your big down payment.  THey will charge you 7.5% interest for 30 years because you are more risky ... being unemployed.  You can do this. /