Asked by Rui Cabral, Andover, MA • Tue Sep 22, 2009
I have a question on financing a house. Single family or a townhouse. I was employed till last week (mid-Sept). So I have my 2008 W-2 and pay stubs through mid Sept 2009. Also I have cash to even buy the property outright. But do not want to do this and have my money tied up. I have enough cash that I can show and a 750 credit score.
My question: Is there a chance that I can find a bank or credit union to give me a mortgage by looking at my liquid assets though I have no income now? Also will a mortgage company take unemployment insurance payments as part of income calculations? Clearly when I am asked on my mortgage application the name of my employer I cannot lie since I am no loner employed by my employer. I understand the days of non-doc loans are gone.
Real Estate in Woburn
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