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Is there a down payment assistance program?

In need of a program that assists upper middle income and does not include using both spouses credit scores by sherrie.m928 from St. Clair Shores, Michigan. Jul 24th 2017 Reply


Jack Cyrul (Jack Cyrul)
#5 ranked lender in Michigan - 94 contributions

RD zero down could be the ticket! Contact me for a free pre-qualifaction. Jack 734-395-9027

Jul 25th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,895 contributions

Not enough information... But generally speaking, you do not have to include a spouse and their credit on any loan application, as long as you qualify by yourself. On some loans in some states (like Wisconsin) (not sure in Michigan) you may have to include the spouses debt in qualifying debt ratios on government loans (FHA, VA, USDA). Next, I've NEVER seen an assistance program that doesn't work on the principal of household income. So even if the spouse is not on the actual loan, if the spouse has income, that will be included to determine if you meet assistance income qualifying guidelines. Bottom line, go talk to a local mortgage broker in Michigan. Give them a full application so they can zero in on your options. For loans in WI, MN, and SD, visit me at www-WI-MortgageBroker.com

Jul 26th 2017
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