How to get a high enough home loan with little income combined?

Posted on Nov 28, 2012 in Stated Income Loans

Question by Superman: Can someone go to jail for lying on a credit application for a car loan?
I know someone who purchased a new car from a dealorship but lied about the ammount of money she was making per month. She is just starting a new job and has not recieved her first check yet. The dealership told her she was approved before seeing her income verification and let her drive home with the car. He later told her that he needed a check stub “for his file” to process everything (even though he had earlier said that she had been approved the loan) and she does not have one to give him. Can she go to jail for this?

Best answer:

Answer by Frank Castle
Yes.

Add your own answer in the comments!

no income home loan
by eyewashdesign: A. Golden

Question by um yeah: How to get a high enough home loan with little income combined?
My sister and I are trying to get a home loan that is pretty high, buy more about being that we live here in Hawaii. We have a good credit score and a very decent down payment. I was wondering if we combined other peoples income with ours, would it be possible that there name not be on the title?

Best answer:

Answer by starrfyrre
Anyone who’s income is used is on the mortgage and the title. If you have five incomes from five different people, five people would be on the mortgage and five people would be on the title.

Know better? Leave your own answer in the comments!

3 Comments

  1. No, that is not possible.

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