Can I get a morgage?

[Tryin2rebuild08]

Hi my FICO friends. I have a question.  I would like to apply for a morgage, but would not like my husband's name to be factored into it. We are still married, but I want to purchase this home on my own for several reasons, two of them being that he is unemployed and undocumented. I'm the one with the income and credit anyway. Do you think i would get qualified without him? I ask because when I wanted to go through NACA and they told me I would get qualified without my husband which is very frustrating.

Also I'm currently making 50k per year with monthly CC dept of about 200.00 & utilities of about (500.00), would this qualify me for a 250k house in NY?

[Anonymous]

Unfortunatley $250K is too much for your income (I also make $50K) Depending on property taxes in NY you are probably looking in the $160K to $180K range.

What you pay in utilities doesn't matter, only what is on your credit report as monthly minimum obligations.  The best way to get a  good guess is to take your income divide by 12 then multiply it by 43% this will be the max monthly debt you should carry including your mortgage.

[ShanetheMortgageMan]

Hiya backatcha.

Is that you have $200 balance on a credit card or the min. payment is $200/mo?

How much of a down payment are you looking to put down?

Does your husband make any income?  I know you said he's unemployed but just wondering if he is getting social security, disability, pension, etc.  If he doesn't have any income I don't know why NACA would say you can't qualify without your husband - unless he has really good credit or money in accounts that your name isn't on.  There is a big long NACA thread you might be able to ask that question in if you really want an answer.

When you say undocumented do you mean he's not a US Citizen, Perm. Resident Alien, or Non-Perm. Resident Alien?

[Anonymous]

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@Tryin2rebuild08 wrote:

Hi my FICO friends. I have a question.  I would like to apply for a morgage, but would not like my husband's name to be factored into it. We are still married, but I want to purchase this home on my own for several reasons, two of them being that he is unemployed and undocumented. I'm the one with the income and credit anyway. Do you think i would get qualified without him? I ask because when I wanted to go through NACA and they told me I would get qualified without my husband which is very frustrating.

Also I'm currently making 50k per year with monthly CC dept of about 200.00 & utilities of about (500.00), would this qualify me for a 250k house in NY?

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Have you looked into a SONYMA mortgage?  It's a special mortgage for people in NYS. It allows dti's of 43%, doesn't require any reserves and I believe they lowered the amount your required to contribute from 3% to 1%.  The only thing I don't know is the credit qualifications of it.  All my scores are above 750 so I have no problem but not sure if qualification is similar to fha or if you need scores that would get you approved for a conventional mortgage.  Also looking at your fico scores, I would start paying down your debt to get them higher since your mid score is below a 680