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Quick question: Who is the best Lending Tree mortgage company in San Diego? Thanks for any response. My other question... I've been lurking on this board for a while, and could not find anything on this topic, so if it's a repeat I apologize in advance. I am in the not so unusual situation of having a decent income, but high student loan debt (law school and undergrad loans of approx $120,000). My wife and I both have credit scores on all bureaus which hover between 630 and 660. Our household income is $77,000 in salary and $15,000 in self employment (all of the income is mine). |
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I'm stumped. I'm not so sure what is the answer. I'll do some Googling and get back to you if I bump into an useful answer. You should email the people at Lending Tree as they probably can answer it..
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Your Debt to Income looks good for the amount of the mortgage you want. Maybe a little high but close. In general terms, housing expenses(loan principle and interest, insurance, property taxes, etc) should not exceed 28% of total gross income, while total expenses (housing expenses plus all other obligations) should not exceed 36% of gross income..
Can employment history be documented for at least the last two years?.. |
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Gtslaw.
First, welcome to the board. While it may seen that you provided alot of information, you really haven't. How long have you been in your current line of work and how long have you had your self-employment income? Why are your scores where they are? As you can see these and many other questions would need to be answered before I could give you any real direction or advice. If you don't feel comfortable posting your personal information here and you wish to, you can email me off-board and I will be glad to help.. Fla-tan.. |
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FLA-TAN, from reviewing the board I see you have helped quite a few other people with mortgage questions. I have emailed you some additional information..
For the rest....My employment can be verified, as can the additional income. The loans are in forbearance until November. I can pay them at that time, or forbear again if it would helpful in getting a mortgage... |
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It can be done. Given your credit scores and income, there are programs that will do this for you..
Having said that, I'll also say that if I were your loan officer, I'd recomend you think carefully first. That's a lot of house for your income, and when those student loans come out of deferment, that's going to be another $1200 a month.. But in the end, you're the only one who can decide what payments you're comfortable with... |
