Posted on: 02nd Aug, 2010 08:19 pm
i made $35k in 08 and 09. since may 2010 i now make $165k want to buy 700k home. can i qualify? 750 fico, california, home purchase, do not want to include spouse. great DTI
Hi bhavint!
Welcome to forums!
As you've a good FICO score and a good debt to income ratio, you would be able to qualify for a loan alone. However, as California is a community property state, the lender will want your spouse to sign an interspousal transfer deed in order to release his/her rights towards the property. Once she does so, you would be able to get a loan in your name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As you've a good FICO score and a good debt to income ratio, you would be able to qualify for a loan alone. However, as California is a community property state, the lender will want your spouse to sign an interspousal transfer deed in order to release his/her rights towards the property. Once she does so, you would be able to get a loan in your name.
Feel free to ask if you've further queries.
Sussane