house loan with zero down…?

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how can i get a loan with ZERO down for a mortgage. I’m a student with no income and don’t even have a credit history. i need this house for living off campus.. i have found the house and its a huge house with 7 or 8 rooms and it costs about 50k. I will be renting it out while living in it and that’s how i expect to pay the mortgage. I already have everybody who will be renting the house out. The months of the year that they go home for break, i will be working full time to pay off the mortgage. what can i do?

5 Comments
  1. Reply
    kemperk
    February 10, 2011 at 9:27 pm

    you will not qualify for a mortgage. however, if you can convince the
    owner, she/he may lease to you on a purchase option.

    you better be glib of tongue………please trust me I will pay you………..

    can’t hurt to try.

  2. Reply
    Landlord
    February 10, 2011 at 10:01 pm

    This is not happening. No loan, you will have to come up with the cahs some other way.

  3. Reply
    Tim
    February 10, 2011 at 10:28 pm

    This is part of what got us to the problem we are in. They were called ninja loans. No Income No Job Applicants.

    It ain’t happening. You would be wasting your time to even look further.

    You’ll need to rent something, with your parents on the lease to qualify.

  4. Reply
    reenzz
    February 10, 2011 at 10:35 pm

    No down payment..no job..no credit = no loan.

    You can not use “potential” rental income as a means to qualify for a loan.

  5. Reply
    Biggie @ Arbor Mortgage
    February 10, 2011 at 10:54 pm

    Wow, how many times are you going to ask the same question & get the same answers? You can’t get a home loan! PERIOD!

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