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Can I get a mortgage in my name using my live-in boyfriend's income?
Wiki User
∙ 16y ago
No. In order to obtain a mortgage in your name, you have to prove that you, as the mortgage holder, will be able to pay the mortgage yourself. The banks do not consider a live-in boyfriend's income a reliable source of income for yourself, nor can they hold him responsible for payment if the mortgage is in your name. You will have to get the mortgage based on your income, unless you and he put the mortgage in both names, using both of your incomes.
Wiki User
∙ 16y ago
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Rental payment income and imputed tax?
When you are able to itemize your deductions using the schedule A of the 1040 tax form and you deduct the mortgage interest to help reduce your income taxes you have a type of imputed income that you have received.
Can a person get a loan using bank statements as proof of income?
I have received mortgage loans based on my bank statements as proof of income since my sole source of income is Federal benefits for which no weekly statement is issued.
Mine income is well below the poverty line and i want to buy a house for the first time?
You cannot buy a home unless you can afford to pay the mortgage payments, taxes, insurance and upkeep of the property using your own income. You should speak with a banker to determine your status as a borrower.You cannot buy a home unless you can afford to pay the mortgage payments, taxes, insurance and upkeep of the property using your own income. You should speak with a banker to determine your status as a borrower.You cannot buy a home unless you can afford to pay the mortgage payments, taxes, insurance and upkeep of the property using your own income. You should speak with a banker to determine your status as a borrower.You cannot buy a home unless you can afford to pay the mortgage payments, taxes, insurance and upkeep of the property using your own income. You should speak with a banker to determine your status as a borrower.
If you have private mortgage financing if one person on mortgage wants their name removed from mortgage how do you do it?
See your lender. You may have to refinance because the mortgage was based on both your credit, income etc. If that is the case you will have to go through an entire new mortgage process just for yourself. If you cannot afford to refinance on your own, the other person can force a sale of the house by using the courts.
Where can one source information about an aircraft loan?
Unless your husband is intending to generate an income using the aircraft then he won't be able to get a business loan. The cheapest way to raise some money otherwise is to extend your mortgage or take out a second mortgage.
What are the benefits of using a mortgage calculator?
the benefit of using a mortgage calculator is that it will give you a clear indication of your monthly mortgage payments when you are purchasing a new home.
What are the benefits of using owner financing?
Owner financing is a great option for buyers who cannot get a conventional mortgage for one reason or another. Either they do not have a steady income history or they have no job.
Have you thought of using Quicken Loans Mortgage?
I have not thought of using quicken loans mortgage before today. I still am not interested in using it because I have no interest what it is offering.
If a property has a rent payment equalling its mortgage payment does that become a non-factor in debt to income ratio?
Not if you are trying to get approved for a mortgage.The way mortgage underwriting guidelines treat rental income is to give credit for 75% of the monthly rent. This is done to account for maintainence and vacancy throughout the year.If you're charging $1,000.00 per month for rent, a lender will allow $750.00 to be credited towards your debt to income ratio. Using the example above, you will have a loss of $250.00 per month which will affect your debt to income ratio.
Where can I find a home mortgage calculator online?
Try using this online mortgage calculator: http://www.mortgage-calc.com/mortgage/simple.html
How would you be able to calculate mortgage?
You can calculate mortgage by using the online calculator that you can find on some websites for calculating mortgage. Such calculators are the one for bankrate.
A sentence using the word mortgage?
The man couldn't pay his mortgage because he had ran out of money when losing his job.
