Posted on: 11th Jun, 2009 12:06 pm
My friend is looking to purchase a 94k home in LA. She has 35K in the bank. Her husband is retired and receives a guaranteed income of 3,000 per month from SS and Pension.
She does not want her husband's name on the deed.
Her credit is ok. She can put 20% down. & self employed but has just started this business. how to go ahead?
She does not want her husband's name on the deed.
Her credit is ok. She can put 20% down. & self employed but has just started this business. how to go ahead?
Since she does not want her husband on the mortgage she cannot use his income towards the mortgage. So it would depend on how much she claimed on her taxes that she made for the business. Best thing would be for her to talk to a lender and go over the more specific details in order to see if she would qualify for the purchase.
your friend's short period of self employment is going to cause great difficulty in her attempt to obtain financing.
