Fha loan mortgage question please help?

I want to buy a condo thats 250 k I have excellent credit and no debt but low income. I have 50 k 20k which i want in a car accident settlement and the rest which i saved up . I know lenders want to see proof of every penny .will showing the 20 k from the car accidnet settlement be enough proof? also i have a... show more I want to buy a condo thats 250 k I have excellent credit and no debt but low income. I have 50 k 20k which i want in a car accident settlement and the rest which i saved up . I know lenders want to see proof of every penny .will showing the 20 k from the car accidnet settlement be enough proof?

also i have a low income but enough to afford this house. is it mandatory to show the last 2 years income taxes i only had an income for a year. I own a small kiosk in the mall and i make around
60 k a year i just paid the quarterly taxes so far

please help I feel like i will never get approved for a mortgage
6 answers 6