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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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

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

Apply Online:
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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