Posted by Ed Garcia on January 13, 2001 at 22:59:19:
If your ratios are out, it might be something you should take into consideration. You know Mia, many times when a lender tries to protect their selves by making sure that we can afford the house, indirectly, they are protecting us. It should send up a red flag for you Mia, and you should be asking yourself the same question.
If I were you I would work this deal backwards. I would decide how much of a payment I could afford and then purchase a house that would be with in that payment amount. If, you’re making more money, and not showing it? Then you can get a loan on stated income, None Income Qualifier, None Income Verification, etc.