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our broker is saying that there can be some problem because of my husband's income, and the debt to income ratio is high than it should be, the car payments just showed up on the report,broker is only taking my husband's full time job but he does 2 jobs and I babysit for two families plus also getting money from my ex for childsupport, should broker be looking at these other incomes also while doing the ratios, he has a 9.35 hr full time & 14 hr part time which goes to about 34 hr each week and I have for single moms $400 babysitting per month and childsupport of $63 per week.

blue · Posted: Thu Apr 19, 2007 3:32 pm Post subject:

Hi HGoldhaber,

Welcome to Mortgagefit discussion board.

What your husband does as his part time 2nd job? Is it in the same profession as the main full time job he has? And for how many years is he been doing it?

The other thing is that for your income to be considered while your loan request is considered you should be also on the application or your income cannot be considered.

But if you are also on the application along with your husband then ask the broker about is the child support money considered as part of the total income or not and if not why. Is the child support court mandated? And how long is it going to continue?

Blue

Guest

If your husband's second job has continued for the last two years then that can also be added with the other income while the debt to income ratio is calculated. Depending on your credit score, if you are also on the loan application then the child support you are receiving can be part of the total income but it should be court ordered and need to continue for three years.

kenstampe · Posted: Fri Apr 20, 2007 1:19 pm Post subject:

And yet, there are perhaps other loan program choices that don't require a 2 year history for part time income and also can use undocumented income for a non-borrowing spouse. Since you obviously need that extra income to be considered, ask your broker if they are considering loan program choices like the my community loan or Bank of America's community commitment loan.

adonis · Posted: Mon Apr 23, 2007 4:40 am Post subject:

Is it the mycommunity mortgage that you are talking about?

kenstampe · Posted: Mon Apr 23, 2007 9:15 pm Post subject:

LOL @ Adonis,

In my post I stated, "ask your broker if they are considering loan program choices like the my community loan or Bank of America's community commitment loan".

So the answer is yes.

adonis · Posted: Mon Apr 23, 2007 9:50 pm Post subject:

Oh well

I have heard of mycommunity mortgage from Fannie Mae and just thought as it was BOA's it might be something different.

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our broker is saying that there can be some with income