I want to buy 110k house in pennsylvania, I have 750 credit score. I have no w2’s for past 2 years?
Dec 26th, 2009 by AutoInsGuy
mike b asked:
I do have pay stubs for past 12 weeks showing 500 a week salary. I can show 30k in the bank , but I can only afford about 10k for closing costs and down payment. Taxes on the home are $3200 a year. I do not have any expenses other than 500 dollars a yr for car insurance. Given this scenario, can I get a mortgage for this home?
Jo
Possibly, but not likely.
Your credit is GREAT, but your employment is not stable, and lenders want adequate income,, stable employment, sufficient down payment AND closing costs, low debt ratio.
Try to get prequalified and see what they say.