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Thread: Cam model in Connecticut looking to buy first home

  1. #1
    Veteran Member illuminaughty's Avatar
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    Default Cam model in Connecticut looking to buy first home

    Hello everyone. I have been on stripperweb for a few years but this is my first time posting here.

    Like my title says I am a full time cam model and I am looking to buy a home.

    I have no debt, my credit score is around 680 and will be continuing to improve.

    I want to buy a home asap, ideally before my lease is up in September.

    Does anyone have any information on how I can get a home?

    I was thinking of getting an FHA loan, but I am hearing horror stories about this whole process from any of the other cam models who have gone through this process.
    Twitter : https://twitter.com/ArielHunterTS
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  3. #2
    Featured Member Zofia's Avatar
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    Default Re: Cam model in Connecticut looking to buy first home

    How good are your income records?

    You will need at least three years of tax returns to verify income. You will need a bank account with at least enough money for the down payment. Lenders and their underwriters are looking for a housing payment of less than 30% of income. They also have total debt to income ratios they look at. But, since you have no debt, that is not really an issue for you.

    You have already looked at your credit score and it's at the lower range of approvals right now. But, that could be because you have no debt. If you have any derogatory remarks on your credit report, clear them up before you start the borrowing process.

    Go to your credit union and talk to them about a home loan. If you don't have a credit union, I suggest you find one to join. Otherwise, talk to your local bank. The big national bank chains are not really interested in home lending. In addition to the local banks, it pays to shop around with other loan brokers. Certainly Rocket Mortgage is worth a look, but there are many more. Pick a couple and see what sort of rates they offer. Get a pre-approval letter and then start shopping.

    As far as FHA, and the other government programs, there are many. All the mortgage brokers will peddle whichever government program is offering them the best incentives. Some actually make sense. But, its always best to shop around with the knowledge of what your credit union and/or bank will offer you.

    The one downside of credit unions is they have a cross-collateralization clause in all their products. This says that if you default on any obligation to the CU, they can take money directly from your deposit accounts to satisfy the default. So, don't default to your CU before you move your deposit accounts elsewhere.

    HTH
    Z

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    Default Re: Cam model in Connecticut looking to buy first home

    I think they are more lenient than that. I have seen mutiple people get mortgages without even having 2 years in the same industry/job etc.

    My biggest concern would be what the heck you tell financial workers if they start asking for details about your work and won't let you proceed further without said details?

    This goes for anyone in the sex industry. What is a good alibi? I have a good alibi for randoms (caregiving) and I put something vague like sales on my tax return (I forget and should probably find what I put there...).

    I remember on a recent strip trip when I was opening a new bank account to deposit money in- I was being asked wayyyy too many fucking questions by this woman. Like I couldn't open the account just saying I do sales. And I don't want to be unprepared again as I also want to buy a house soon.

    I've been pre-approved in the recent past so I am not worried about that. Just worried about them digging into my line of work too much and if this is common with mortgage lenders? I sure wasn't ready for it coming from a god damn bank worker and that really threw me off and pissed me off.

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