Question Details

Julie, Home Buyer in Huntersville, NC

Hi, my creditscore in 800, i would like to buy a house and put 40% down. But i can not prove income, will the

Asked by Julie, Huntersville, NC Fri Feb 6, 2009

bank give me a loan?

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Answers

3
Providing a mortgage without proof of ability to repay is for all practical purposes illegal in Florida.
0 votes Thank Flag Link Sat Feb 7, 2009
Julie-

You will not find anything right now that will allow you to state income. Even the Fannie Income Doc Waiver is gone, which I am sure you would have qualified for this time last year.

My best option for you would be a non-occupant co-borrower with enough income to help you qualify. You should be shooting for a 55% max back-end Debt-to-Income Ratio.

If you have any questions, please let me know. Good Luck
Luke Allison
Flagstar Bank
828-777-8828
Luke.Allison@flagstar.com

Apply Online: flagstarloans.com/lallison
0 votes Thank Flag Link Fri Feb 6, 2009
You need to provide enough info to prove the ability to pay.
0 votes Thank Flag Link Fri Feb 6, 2009
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