Dh and I are buying our home and had no problem getting a loan for it even with CC debt. Our income wasn't high but we lied about it and paid 1/2 a point higher on our loan.
We are having tons of problems living here with our neighbor and land lawsuits and such and are thinking of moving. Homes here are super expensive but I was at my friends house the other day and she said her landlord is selling for the same price we paid for our house. The house has a great rental history and I am wondering if you are buying a house to be used for income if there is different qualifications, like they don't care if your income has gone up much since a great portion of the rent if paid for.
As in we said we made 50,000.00 a year to get this loan, would we have to say we made more than that to qualify?
BYW, we paid off more than 1/2 of our CC debt recently if that matters.
We are having tons of problems living here with our neighbor and land lawsuits and such and are thinking of moving. Homes here are super expensive but I was at my friends house the other day and she said her landlord is selling for the same price we paid for our house. The house has a great rental history and I am wondering if you are buying a house to be used for income if there is different qualifications, like they don't care if your income has gone up much since a great portion of the rent if paid for.
As in we said we made 50,000.00 a year to get this loan, would we have to say we made more than that to qualify?
BYW, we paid off more than 1/2 of our CC debt recently if that matters.
