Posted on: 18th Feb, 2009 11:42 am
I am trying to get a home loan for a condo that is 119k. I have 72k in the bank, but jave no verifiable income because I work as a nannymaking about $1100/ month. if I could get a 30 yr home loan for around a fixed rate of 5.75 percent, putting 10k down, my payment would only be around $650/ month, much cheaper than the $1300 im looking at in rent. My fico score is around 700. I am 22 now, going to schol full time and getting ready to move out of my parents home. is there any kind of loan that I can get with my situation? or even if I had a cosinger who makes $1300/month with roughly $120k in the bank?
Roxy
If you went with no income verification, you would have to put at least 25% down. A co-signer would help your situation.
If you went with no income verification, you would have to put at least 25% down. A co-signer would help your situation.
Hi Roxy!
Welcome to forums!
I agree with Eric. It will be better if you can take the help of a co-signer while applying for the loan. The lender will take into consideration the co-signer's income while approving the loan.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
I agree with Eric. It will be better if you can take the help of a co-signer while applying for the loan. The lender will take into consideration the co-signer's income while approving the loan.
Feel free to ask if you have further queries.
Sussane
