Posted on: 21st Mar, 2011 08:09 am
I need to show 50 % of income to debt for 2009,2010 taxes on the average of the two to get a loan is there a lender that will go for just one year?2009 is low
Hi roadwarrior!
Welcome to forums!
All the lenders will want to check the debt to income ratio for the last two years. I don't think any of the lenders will be ready to give you a mortgage by checking only the last year's debt to income ratio.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
All the lenders will want to check the debt to income ratio for the last two years. I don't think any of the lenders will be ready to give you a mortgage by checking only the last year's debt to income ratio.
Feel free to ask if you've further queries.
Sussane
then it sounds like i should wait untill the end of this year, unless the guidlines change.
Hi adayspa,
I don't think you can do anything else. You will have to wait for another year and then apply for a loan.
Thanks
I don't think you can do anything else. You will have to wait for another year and then apply for a loan.
Thanks
thanks a lot short sale people and forcloser people, you ruined it for everybody!
Are we safe in assuming that you're self employed? You might get away with only the 2010 income, but that's going to depend on your credit also.
