Posted on: 10th Nov, 2010 07:51 am
I am recently going through a divorce. At the temporary hearing it was decided that since I take care of my live-in elderly mother, that I am to use her income (death benefit from my father and social security) as my income or alimony. (My name is on her account.) With this money and the money I am to receive for child support (2 children) would I qualify for a home loan if granted the house? The money would cover my expenses or do I have to get outside employment and home health care for my mother to qualify?
Hi,
If you wish to buy new home & you need mortgage for that, then you may apply for FHA loan. You have minimum 620 credit score , Statment from bank from last 6 months, Your income proof 3.5% downpayment required in order to qualify to get FHA (Federal Housing Adminstration).
And if you not owe any property from last 3 year then you will be qualify for the first time home buyer tax credit 8000$.
Thanks & Regards.
Gunz.ijjistaff :lol: :lol: :lol:
If you wish to buy new home & you need mortgage for that, then you may apply for FHA loan. You have minimum 620 credit score , Statment from bank from last 6 months, Your income proof 3.5% downpayment required in order to qualify to get FHA (Federal Housing Adminstration).
And if you not owe any property from last 3 year then you will be qualify for the first time home buyer tax credit 8000$.
Thanks & Regards.
Gunz.ijjistaff :lol: :lol: :lol:
This is for the house I am currently living in but the loan is in my husband's name.
Hi,
Is you name is mentioned on property deed?
Thanks.
Is you name is mentioned on property deed?
Thanks.
Yes, it is...just not on the loan.