Anyone have any info on this?
I am self employed but my tax returns show I make less than I actually do, do to write-offs and deductions.
When getting a mortgage, do lenders look at bank statements too?
I was also told my CU does not do FHA loans, but work with a 3rd party.
Is this normal?
My fiance is listed on my checking account and our total income last year was $40,000 or about $3300 per month.
The houses I am looking at would be about $810 a month with the mortgage, property insurance, mortgage insurance and property tax included (home price $125,000).
Is a $800 morgtage payment possible on a $3300 combined monthly income?
Use a DTI calculator to find out if your numbers will work
as for your first question I belive Shan answered a similar question in this thread. Hope it helps