Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012
Re: May need to find a new lender....advice needed

Bad news and not so bad news.....due to the large amount of deductions I claimed on my 2011 taxes, my income cannot be used. Using only my husbands income, we qualify for $135k which means we would need a downpayment/gift of $50k to afford this house using the va loan or get a co signer, put 3.5% down and use FHA. Either way I won't be on the loan.....my mother has agreed to co sign so that's good but I am feeling a little wired about not being on the loan. My husband suggests that we use the va to refi and ad me as a coborrower after I file my 2012 taxes (with very little deductions).......opinions?????

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board