FH is half on the books at his job, do you think he should go totally on the books to get a better mortgage rate or loan option? We are not sure if we're going to buy a house or condo/co-op yet but just trying to plan ahead a little bit this way he can change it now if it wil be better.......
JambaLady
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Re: NWR-planning ahead on getting mortgage?
I think he should definitley go all on the books. When you guys apply for your mortgage they are going to look at your combined salary and ask for tax returns. If he is half off the books, it is going to look like he makes much less than he really does. They will look at your salary, your savings, and your monthly payments and having a job off the books will reduce your montly income vs debt ratio.
lsiliato
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Re: NWR-planning ahead on getting mortgage?
I work for Countrywide Home Loans and they have a program called Fast & Easy. If you have a 660 or higher credit score you do not need to show income only state you have a job. You get the same exact interest rate as if you showed all income.
FM me is you would like more info.
Beth1210
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Re: NWR-planning ahead on getting mortgage?
I was going to say the same thing- if you have good enough credit- you don't have to state your income
meliss1019
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Re: NWR-planning ahead on getting mortgage?
thanks ladies. I'll have to do credit checks on both, I have no idea what our scores our...
