Question by Snowflake: Can I get financing to buy a house without having a job?
My husband has a full time job in the military but we need the home loan for to go on my credit because his credit is taken up. I am a stay at home mom without a job.
Best answer:
Answer by Wisdom Troll
Yes you can. No doc loans don’t require any documentation.
What do you think? Answer below!
nope
if you actually need money they won’t loan it to you
if you don’t need any then yes
thats how it works
you should contact the Fanny May foundation they can help you.
food stamps ! you can buy a yacht.
It depends on your credit score, how much money you are willing to put as “down payment” and also the lender. You will not know until you contact a few lenders and see for yourself.
Since you’d be the primary buyer, I doubt you’d be able to get the loan. You’re gonna have to lighten up your husbands credit to get this loan or else you might get it with a really high interest rate. It probably wouldn’t even help if you got a part time job because your debt to imcome ratio wouldn’t be very good.
If you have a large enough down payment, I’d think it’d be possible.
When ALL factors don’t come into play, the mortgage broker will try to find the right COMBINATION of factors. In the perfect world, your husband would have the job making enough to cover the mortgage, with perfect credit, right? What if he made $ 500K with NO credit, and he had enough money saved to put 50% down? Would it matter what your income/credit looked like? Come on, with an income of $ 500K and 50% down? I highly doubt it. If anything, they’d tell him to open up a little unsecured credit card or something, give it 6 months and then reapply.
You need to talk to a professional who will find the right combination for you. Where there’s a will there’s a way! And they will find a way for you to get into a house. Just don’t be shocked if you’re paying higher interest because you’re lacking somewhere.
You can’t get a loan because you don’t work. What you should of done when paying bills sign your name on the check and make sure the payments are made on time, never late and it will help you get good credit.
My mom was a stay at mom. My dad worked. When he got his pay check , he would give it to her. everything was in his name and nothing in hers. She made sure everything was paid on time never a day late. By doing that my mom created a AAA credit record for my dad, only if she had gotten some in her name. .Since she handled the money she could have but she didn’t because she wasn’t thinking about herself. And what would happen if she was left alone.