Home Buying in Chesterfield>Question Details

Beau0124, Home Buyer in Chesterfield, MO

I am a full time student at Logan College of Chiropractic . I want to be a house in the $50,000, how can I go about this with no real income source?

Asked by Beau0124, Chesterfield, MO Tue Oct 6, 2009

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4
Lisa McKnight’s answer
I agree with Debbie a Loan Officer can help you see how much you can qualify for. You may be pleasantly surprised and qualify for a higher amount with the interest rate. A great Loan Officer is Regina Ruvinova, regina@capmortgage.com. There were no home available in the immediate Chesterfield area in the price range requested. I have included a few homes with 20-30 minutes of Chesterfield. Click here to see homes.
View Listings link will be available for 30 days. If you do not see a link, copy this text to the address line in your browser:
http://maris.rapmls.com/scripts/mgrqispi.dll?APPNAME=Gstl&am…
0 votes Thank Flag Link Thu Oct 8, 2009
Hi Debbie,

Lenders are required to verify borrowers' ability to repay loans by underwriting their current income. Sounds like you don't have one now, your best bet would be to obtain a loan with a coborrower (Mom/Dad?) who bring usable income to the equation. I am in St Louis, glad to help if you have more questions! Thanks, Ted
0 votes Thank Flag Link Tue Dec 10, 2013
Hi Debbie,

Lenders are required to verify borrowers' ability to repay loans by underwriting their current income. Sounds like you don't have one now, your best bet would be to obtain a loan with a coborrower (Mom/Dad?) who bring usable income to the equation. I am in St Louis, glad to help if you have more questions! Thanks, Ted
0 votes Thank Flag Link Tue Dec 10, 2013
Beau0124 -

Congratulations on going to Chiropractic school!

I don't mean this to sound flip, but I do believe your question is best answered by a lender. If you know of a lender in your area or have a recommendation from someone in the area, I suggest you visit with a lender.

How are you currently paying rent? other bills? etc. I would let a lender talk with you about your income source and if that would be in the parameters of obtaining a loan.

Good luck and again, congratulations!
0 votes Thank Flag Link Tue Oct 6, 2009
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