@Rindy wrote:Thanks everyone, I will have to work on his scores and apply at the top of 2014. I am just really disappointed because I thought I would be able to qualify on my own. However..I wanted to clear up a few questions I saw some of you ask:
I live in California (a community property state)
I am not self employed BUT I work from home and have to travel for work a lot (thats where the 20,000 in deductions come in)
The community we really wanted to live in does not have a home under 290,000..with the adjusted income of 60,000 (80,000 - 20,000 in deductions) I don't qualify
looks like the only thing left to do is wait until I file my 2013 taxes and not write off so many expenses.
Were they reimburse or non-reimbursed expenses? Non reimbursed expenses are directly deducted from your income, and can not be worked around. Even if you amend your returns Underwriting is not going to like that you "changed" your tax records just to qualify for a mortgage.