Buying a home and working for family… [vent]

posted 3 years ago in Home
Post # 3
Member
3280 posts
Sugar bee
  • Wedding: June 2014

My FI works for his family farm and we were easily able to get an adequate mortage. I could see how the raise would seem supicious to a lender though. I’d wait until your FI got home or you’ve been working under your current pay longer and re-apply, or see if someone like you parents will co-sign that could help a lot. Good luck! 

Post # 4
Member
851 posts
Busy bee
  • Wedding: July 2013 - The front lawn of our church

@LMD:  Ugh. So sorry! Must be so frustrating! 

Post # 6
Member
391 posts
Helper bee
  • Wedding: July 2013

Can you try with a different mortgage company?

Post # 8
Member
802 posts
Busy bee
  • Wedding: August 2015 - Backyard Forest

@MmeVT:  +1

@LMD:  Plus, can’t you include your DH? That way it’s clear there are two incomes – and one of yours can sustain the mortgage. I’m not exactly sure how it works in the States. 

I just bought a home and fell in love with one before we found the one we bought. I was *IN LOVE*, but it didn’t work out. Now I know why. I am so glad we didn’t buy that first house. 

Just trust! It’ll all work out!

 

Post # 10
Member
802 posts
Busy bee
  • Wedding: August 2015 - Backyard Forest

@LMD:  that’s a bummer! It’s so hard when you’re set on something and you get thrown a curveball like this! Maybe talk to the lender, explain your situation to them and ask about the approval process once your husband is back from training. 

Post # 11
Member
391 posts
Helper bee
  • Wedding: July 2013

@LMD:  If you have that much money in reserves for mortgage payments, couldn’t you use some of that to add to your downpayment or to pay off existing debts so that your DTI ratio goes down?

Good luck, I know how stressful the process is. We are in the midst of it too, I just sent off our loan application today. Fingers crossed for you.

Post # 12
Member
567 posts
Busy bee

@LMD:  So sorry 🙁 we are having to put our house buying in my name as well, bc my man is unemployed right now:( Its not something i feel very good about and it makes me angry he is not as ambitious as me to get out there and make money:(  Atleast yours is gonna be back at work soon though

Post # 15
Member
644 posts
Busy bee
  • Wedding: May 2010

I’d find a different lender, we actually switched while we were in the middle of negotiations. It might surprise you what another lender is willing to do.

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