Mortgage help (again)?
I asked some time ago, but again, our current dilemma.Mina and my wife tries to buy a house. We had a ton of paper to get a loan, because a couple of questions oleme.Mul a bad credit rating, and I am a full time student, so I do not work. My wife is a good score, it is the ballot itself (if we are one). we live in Wisconsin, a marital agreement, so I’m not going to be a loan, my loan application, the debt will be discussed. I do not have a significant amount of debt, if it is not really a problem. The question we have is our debt to income ratio. More …. my wife is quite a physical therapist in the health care system. He holds a doctorate in a Catholic private university, if she has a very large number of student loans. with the amount of money he made, it is our debt to income ratio does not meet the standards necessary to obtain a mortgage because of high student loan payments, we are responsible. Please keep reading …. Now the company my wife works pays him all his student loans. This fact is well documented with pay stubs showing her and she pays taxes on income. additional income from your student loan amounts $ 10,000 per year and covers 100% of his contributions. The company is making its loan payments on behalf of his 9-month period. If you have an additional $ 10,000 of their income, it makes our debt to income ratio of 39% which is below the standard we’re talking (41%). Forgive me if I sound like an idiot by those numbers, I do not know exactly how neile.Siiani each bank, we ask the loan does not accept these payments as income, and always rely on the repayment of minimum monthly loan debt. I do not understand why they do it. if the additional $ 10,000 was paid directly to her, he would simply say that it makes it even more, but because it goes directly to the holders of its credit, banks will not accept it as income . I am shocked and appalled that they either accept loan payments, your loan proceeds or minimum wipe board, because we do not understand his business done. repayment of the loan is written in his contract with the health care system and displays all your salary slips, but not accepted because “he could not leave his job.” So my question is … Why banks do not recognize extra income? Is there a good, reputable national mortgage companies that recognize these benefits as income? We are both very angry against this, because we have an accepted offer on this house, and were submitted to our credit, but we have a loan officer have been dropped after two weeks of us, we had nothing to fear. I am ready to give up, but my wife wants to keep trying, so if Please help us! Aitäh.Keith