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I have excellent credit but show low income. My husband has horrible credit from a failed business including foreclosures but high

but high income. The failed business included several properties foreclosed on and he was not protected. Our home mortgage has been paid 100% on time, always current. All credit cards always paid off every month and never carry a balance. Is it possible for us to purchase a new home with a 25-30% down payment? by danaca_143_486 from Milford, Connecticut. Nov 19th 2012 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,823 contributions

FHA will allow for a non-occupant co-borrower and will include the income of that co-borrower in determining if you qualify. Connect with a local Mortgage Banker/Broker to learn what your options are. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Nov 19th 2012
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Yes you can. Please contact me @ 630-687-5800

Nov 19th 2012
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Brett Boyke (bboyke)
#20 ranked lender in Illinois - 19 contributions

The best way would be for you to purchase the home with you as the occupying borrower, and have a non-occupying co-borrower on the loan with good credit and income to compensate for you not having enough income to do this on your own. You could have your husband on title to the property, but he cannot be on the loan obviously.Brett BoykeWintrust Mortgage630-598-2392

Nov 19th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

It would either be based on you being able to qualify for the mortgage on your own or using a co-borrower to help supplement your income (as suggested above)

Nov 19th 2012
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