I want to purchase a home in ca with FHA loan and am currently seperated fr
I want to purchase a home in ca with FHA loan and am currently seperated fr
I want to purchase a home in ca with FHA loan and am currently seperated from my husband, we are still on good terms but I will be purchasing the home alone. He has a large monthly truck payment that will put my debt to income ratio out of the loop for me to qualify. I do not pay this monthly payment nor have we ever shared an account, also my name is not on the truck. Is there anything I can do?
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If the loan is more than 12 months old, and you can provide the lender with evidence that your husband's been making those payments (copies of checks, or bank statements showing the payments coming out, for example), then the lender ought to be able to eliminate that debt from consideration.
That's the FHA guideline, and unless the lender doesn't follow the guideline, you should be fine under those circumstances. Of course, all else must be in order as well.