is there any way i can get a loan for 165,000 for a home if i got good credit but a lower income?

Question

me and my husband have lower income (about 25,000-30,000 a year)but want to get a decent home is there anyway we can qualify for a loan.

Answer 1

There is a problem with what you just said. In a nutshell, you are saying that you cannot afford the home you want, but still want to get it.

BEWARE!!! This is not a good situation to be in. Buy what you can afford. Do not get sucked into odd loan types just to be able to afford a home. This will cause foreclosure.

Buy a home that you can afford, please. I understand that your intentions are good, but many people seem to want to bite off more than they can chew, then in the end, they end up adding to the already astronomical foreclosure rate.

Check yourself and work with a good Realtor and tell them what you are looking for. It may take some time, but chances are, one is going to eventually come up fro sale.

Answer 2

Yes, there are ways of qualifying (depending on your credit) for a loan where you don't have to report your income, but ask yourself this question. If these guidlines where put in place to qualify you for a loan, do you think they where put there for a reason? Or, in other words, can you afford it once you get it?

I know home ownership is the holy grail for todays American citizen, but in actuality, I would think that you would be better served not slaving to someone just to "make ends meet". live below your means until you can come up with a proper down payment of 20% and live comfortably in the home. Why create more stress for yourself? Home ownership isn't all it's cracked up to be and what you don't hear about is the person that not only lost thier home and any equity they accumulated but also thier credit. Making it impossible to get thier feet back on the ground after foreclosure.

sidenote: I've heard that the majority of suicides in the U.S. are spawned from financial burdens.

Answer 3

I too can get you qualified depending on your state, with a really good credit score we can go "stated" which means no proof of income. If you are seriously interested in this contact me at 877-LOAN-103 and ask for Josh

Answer 4

YES I CAN GET YOU A LOAN BUT DO NOT DO IT. YOU WILL FIND YOURSELF IN TROUBLE. You only have about $1375 per month income (30k /12 *55%) take out your car payment,taxes insurance credit card bills ect. Will not leave you enough.You both need to make more money.

Answer 5

Yes as long as you put enough money down for the house they will loan the money because they are protected if you default.
here is a sidenote;
A spouse that is using stress to destroy the marriage may use financial burdens as the last straw to break the camel's back. Sometimes it becomes a suicide.

Answer 6

You can easily qualify making that much if your credit scores are at least a 580. I would be glad to take a look at your situation and educate you on the process, please contact me at your convienience [e-mail]
I work with over 100 lenders and have several options that may fit your needs. I look forward to hearing from you

Answer 7

Yes, contact me today to discuss your current financial situation. 1-877-205-2747.