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can i qualify?

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bhavint Joined: 02 Aug 2010 Posts: 1 1.26 Dollars($)	Posted: Mon Aug 02, 2010 8:19 pm    Post subject: can i qualify? Like 0 Dislike 0 i made $35k in 08 and 09. since may 2010 i now make $165k want to buy 700k home. can i qualify? 750 fico, california, home purchase, do not want to include spouse. great DTI
smithsussane Joined: 18 Sep 2008 Posts: 10430 Location: Alaska 984.35 Dollars($)	Posted: Tue Aug 03, 2010 12:06 am    Post subject: Like 0 Dislike 0 Hi bhavint! Welcome to forums! As you've a good FICO score and a good debt to income ratio, you would be able to qualify for a loan alone. However, as California is a community property state, the lender will want your spouse to sign an interspousal transfer deed in order to release his/her rights towards the property. Once she does so, you would be able to get a loan in your name. Feel free to ask if you've further queries. Sussane

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