Posted on: 04th Mar, 2010 04:15 pm
Am buying a home worth 220,000 .Am putting down 3.5% .My income is around 65k . The issue is my 2008 taxes l wrote off almost 20k as expense and l have a debt payment of 922 a month can l qualify for a loan with my 2009 taxes ?
Hi,
You should apply for FHA (Federal Housing Administration) Loan. You have to put 3.5% as a down payment. 620 credit score. Most recent bank statements & other required paperwork, then you will be eligible to get loan.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
You should apply for FHA (Federal Housing Administration) Loan. You have to put 3.5% as a down payment. 620 credit score. Most recent bank statements & other required paperwork, then you will be eligible to get loan.
Thanks & Regards.
gunz.ijjistaff :lol: :lol: :lol:
dadcob, i presume that the $20K writeoff brings your income down to $45K. is that right? if so, i'm going to suggest that your quest for that home won't be successful based on what you've noted are your other expenses.
