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waris
Joined: 24 Jun 2008
Posts: 4
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| Posted: Tue Jun 24, 2008 7:18 am Post subject: Mortgage options is it possible to get a loan |
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| my situation is very complicated. source of income 1) structure settlement payment monthly for 25 years, 2) Long term disability (from an insurer. 3) Canada disability pension. total monthly income 2800 tax free. I have around 200k in savings. I am getting married and moving to US and my wife is a teacher. I was wondering if lenders will consider that as income or will i face major problems? we'll be in LA. we are looking for a 750k mortgage. I appreciate your help. thanks |
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waris
Joined: 24 Jun 2008
Posts: 4
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| Posted: Wed Jun 25, 2008 11:30 pm Post subject: |
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| this is a very slow forum :( |
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Coby T. Lucas
Joined: 28 Jun 2008
Posts: 5
Location: New York
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| Posted: Sat Jun 28, 2008 7:06 pm Post subject: |
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| It is very possible that you can obtain a loan with your situation. It really all depends on your credit score, your total household income, the amount that you are planning on borrowing and other variables. Some lenders have stricter guidelines than others have. |
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liverichly
Joined: 10 Feb 2005
Posts: 198
Location: Orange County, CA
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| Posted: Sun Jul 20, 2008 12:20 am Post subject: Re: Mortgage options is it possible to get a loan |
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waris wrote: my situation is very complicated. source of income 1) structure settlement payment monthly for 25 years, 2) Long term disability (from an insurer. 3) Canada disability pension. total monthly income 2800 tax free. I have around 200k in savings. I am getting married and moving to US and my wife is a teacher. I was wondering if lenders will consider that as income or will i face major problems? we'll be in LA. we are looking for a 750k mortgage. I appreciate your help. thanks
Going to be tough qualifying for $750k mortgage in Los Angeles on a teacher's income + disability pension you are receiving. Do you have to buy an expensive home like that or can you rent while prices come down a little more? |
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