Posted on: 22nd Jun, 2009 02:30 pm
I know this has probably been covered before but here is my situation..
Credit scores eq 621 exp 644 transu 637. I am self employed and can verify only about 30% of my income. I know that I will not qualify for a 115K loan with my tax return info. My mother has offered to cosign for me her income is more than adequate to meet the requirements and credit score is somewhere around 800. Is this an easy one, or am I going to have a tough time trying to financed. Thanks in advance.
Credit scores eq 621 exp 644 transu 637. I am self employed and can verify only about 30% of my income. I know that I will not qualify for a 115K loan with my tax return info. My mother has offered to cosign for me her income is more than adequate to meet the requirements and credit score is somewhere around 800. Is this an easy one, or am I going to have a tough time trying to financed. Thanks in advance.
jeffjbar
Welcoem to the forum
You ahve a good good credit score to got for FHA loan. if income si the problem, the your mother co-signign it will absoutley help you.
But rememebr, bot of you will be responsible for the loan
Good luck and feel free to ask
Welcoem to the forum
You ahve a good good credit score to got for FHA loan. if income si the problem, the your mother co-signign it will absoutley help you.
But rememebr, bot of you will be responsible for the loan
Good luck and feel free to ask
realgeni
thanks for your help.
thanks for your help.
Glad to help
Good luck
Good luck
Went to the bank today and was told that since I have only been self employed for 1.5 years that my income could not be added at all and my cosigners income would have to carry her debt and mine. Is there any way around that or is that the way it is? Thanks in advance.
on edit: Also I have heard that if you owe less than 10 months on auto loan that the payment would not count toward your monthly debt. Is that true?
on edit: Also I have heard that if you owe less than 10 months on auto loan that the payment would not count toward your monthly debt. Is that true?