Getting a mortgage

[Anonymous]

Score is 659. Only debt is a vehicle loan balance 48,000 payment is $744 (chose a short loan term). Income is 4956.

Applying for a home loan through veterans lending (I'm active army), and was told my debt to income is to high. I get how it's calculated but this being my only debt I don't see how I'm having such a hard time to be approved for 310k.

Any thoughts, suggestions, success stories with a lender?

[Anonymous]

My 2 cents, I have an outstanding mortgage of $150k, $500/month car payment and the same income as yours. Factor in insurance, taxes and normal living expenses etc...I barely make ends meet. Hard time coming up with the cash to re shingle the roof .

probably not what you want to hear but I think the amount your asking for is just too high for that level of income. I'd shoot for something under $225k

just friendly thoughts 

[Anonymous]

That wasn't the question, we are a two income family however my spouses can not be counted due to being self employed. 😀 Insurance and taxes are included in most house payments. We pay more in rent than the projected mortgage. We have no debt besides the truck and normal "house hold bills" are $500 and then about $350 for groceries.

We are looking for advice about lenders. 😀

[stargazer25]

This might be better suited in the mortgage section vs. the rebuilding section. Unless you are trying to rebuild before you apply for a home loan. In traditional lending that credit score would hinder you from qualifying for the best rates and may cap your loan DTV.

I am self employed as well with a W-2 significant other. The lender doesn't care if you are a double income household if they can't put her on the hook for the balance as well.

You would be looking for a lender that does stated income loans with bank statements to be able to include her income. She might be writing too much off against the business. I don't even know if those types of loans exist anymore.

Last time I apped for a home loan by myself making about $80K base W-2 (rest of my income was volatile) and no debt, I qualified for $250K.

Good luck