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FHA Loans and self employment.

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FHA Loans and self employment.

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?









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Valued Contributor

Re: FHA Loans and self employment.

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

Message 2 of 2
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