Home Buying in Wynnewood>Question Details

Shaakira Gil…, Home Buyer in Wyncote, PA

My husband deposits weekly amounts of money in our joint account. Can I use this as extra income in trying to qualify for a mortgage?

Asked by Shaakira Gillette, Wyncote, PA Sun Dec 29, 2013

He is not going on the loan

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4
Hi shaakira

to use his income you have to qualify him with the loan

good luck

omar khamisa
0 votes Thank Flag Link Sun Dec 29, 2013
He's a 1099 employee and his tax situation is confusing & complicated that's why he cannot go on the loan. However, I thought I could use the weekly checking deposits as a source of income since I will have the bank statements & I use it to support our children.
0 votes Thank Flag Link Sun Dec 29, 2013
All deposits would have to be sourced for a traditional loan. The only way you could utilize his deposits is with a bank statement loan. But the rate will be higher on a portfolio product like bank statement loans.

Let's discuss your loan scenario in more detail. I would appreciate the opportunity to earn your business, contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. I lend nationwide.


Until then, I look forward to hearing from you.





Bart Gabe

http://www.bartprequalifies.com

bart@bartprequalifes.com

800 315 8803



NMLS# 20743 - my licensing information

http://www.nmlsconsumeraccess.org/ - link to look up my license number
0 votes Thank Flag Link Sun Dec 29, 2013
Hello Shaakira,

We can't use deposits in a bank account as income without showing other information to document those deposits. Is there a reason that you cannot use his income to qualify supported by his pay checks and w2's

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
0 votes Thank Flag Link Sun Dec 29, 2013
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