For certain types of loans, your mom can "gift" you money to increase the down payment. That might lower your mortgage so you can qualify by yourself.
Speak with the Loan Officer at a bank or mortgage broker for help in understanding your situation. If you contact me I can refer you to a good lender.
If you are using your mother's income to help you qualify she will have to be on the loan too.
Your mam can GIVE you down payment help, and not be on the loan, but if you ue her income to qualify she will have to be on the loan.
I wish you the best!
Kawain Payne, Realtor
Your mom would have to be on the mortgage if you want to include her income for qualifying purposes.
Regarding the IRS, if your mom has an installment agreement with the IRS that would be acceptable.
Regarding her credit, well, it depends on her credit score and whether or not she has 30 or more days delinquent on any account within the last 12 months. With FHA your credit score can be as low as 500 and you have no late payments within the last 12 months. Also, if your score is below 580, you would have to put 10% down.
Elva A. Wormley
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / DRE #01274093