Posted on: 14th Jun, 2009 04:24 pm
Here is the situation:
Borrower is self-employed < 6 months as of 01/09. Income does not qualify - but 08 & 07 W2 income was 150K, 160K with 5 years solid work history. (09 stated income in line with previous two years)
Wife now makes 43K with < 1 year work history, but job is 250 miles away (he is mobile, she works 4 days/week, and they split time in two cities). Couple will put down 50K on 200K property and has 75K additional liquid assets. FICO on both is 760+.
Can this be done on a conventional full doc as primary residence? how do we get wife's income to qualify given distance between job and residence?
Thanks!
Borrower is self-employed < 6 months as of 01/09. Income does not qualify - but 08 & 07 W2 income was 150K, 160K with 5 years solid work history. (09 stated income in line with previous two years)
Wife now makes 43K with < 1 year work history, but job is 250 miles away (he is mobile, she works 4 days/week, and they split time in two cities). Couple will put down 50K on 200K property and has 75K additional liquid assets. FICO on both is 760+.
Can this be done on a conventional full doc as primary residence? how do we get wife's income to qualify given distance between job and residence?
Thanks!
Hi elveque,
This query has been discussed on the following page:
http://www.mortgagefit.com/loantalk/qualify-job.html#101648 .
This query has been discussed on the following page:
http://www.mortgagefit.com/loantalk/qualify-job.html#101648 .
elveque
Welcoem to teh forum
with yoru credit score and your wifes salary and some documentation about your income you shoudl be able to qulify for a loan
Good luck and feel free to ask
Welcoem to teh forum
with yoru credit score and your wifes salary and some documentation about your income you shoudl be able to qulify for a loan
Good luck and feel free to ask