Financing in 30296>Question Details

Faith3, Both Buyer and Seller in 30349

can i get financing for a house, if i am re ceiving unemployment, but have 2 other sources of income, with good credit?

Asked by Faith3, 30349 Sun Jul 18, 2010

i need a different floorplan than what i have, because a special needs brother is now living with me, and i been ashame to even ask an agent.

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What are the two sources of income that you're currently receiving?
0 votes Thank Flag Link Sun Jul 18, 2010
Careful James, unless you received your mortgage license. We were told yesterday that non-qualifying loans might be making a comeback from the DC crowd, due to low demand for current inventory. This includes no doc, no ratio and stated income.
0 votes Thank Flag Link Sun Jul 18, 2010
Probably not.

If you are receiving unemployment then I assume your other forms of income are not documented.

If it's not documented income then the lender will not be able to recognize it as income and would not be able to approve a loan.
0 votes Thank Flag Link Sun Jul 18, 2010
Faith, Please don't feel ashamed to ask an agent. Most Realtors are not looking to judge your situation.... we just want to help! I think your first step would be to call a lender and speak with them directly since this is really a financing question. A good lender can look at your individual financial situation and answer all your questions. Good Luck!
0 votes Thank Flag Link Sun Jul 18, 2010
Excellent question, Faith, but no reason to be ashamed on an inquiry. Lending guidelines and mortgage qualification standards seem to changing almost weekly now. Please consider calling one or both of our preferred lenders below and starting a dialogue as to what you might need to get qualified, or at minimum, answers. If you have any questions for me on housing, please call or email and I will be glad to share my thoughts with you. Good Luck!

Michael Hammond

Jay Posey
Your Mortgage Advisor
PHH Mortgage, Inc
Phone: 404-992-5462

Chuck Ewing
Senior Mortgage Planner
Community Mortgage Services
Phone: 770-241-1700
Fax: 678-623-0960
0 votes Thank Flag Link Sun Jul 18, 2010
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