Thread: Buying a house
View Single Post
  #6  
Old 04-21-2005, 10:47 AM
otctrader otctrader is offline
Junior Member
 
Join Date: Aug 2003
Posts: 4
Default Re: Buying a house

No doc is the way to go, and if your credit is 750ish or higher, you can get away with 10% down; right now it's silly not to leverage the mortgage since money is cheap and you'll want to maximize your tax deductions.

Unless you have a 3 year+ audited history (with tax returns) of 6-figure income from poker, telling a bank you're a "poker pro" is pretty much suicide - you might as well tell them you're a professional casino patron. Even with the history, I'd probably bull$hit them and make it look like it's derived from a legitimate internet business; but I digress.

Buy the house, you won't regret it.
Reply With Quote