Am I missing something, how are people getting home loans when?
operaphantom2003 asked:
I have been turned down for many home loans because I don’t make enough money (36,000 family income) even though the mortgage, insurance, and taxes are less than I have been paying in rent for the past 5 years. But, my neighbor (single income family with 4 kids) qualified for more of a mortage than I have been wanting and she makes less money than I do. I mean, in my city, the average family income is 31,000 and the average home price is 190,000. How are people getting home loans when apparently they don’t qualify? Am I missing something and being too honest on the applications?
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I have been turned down for many home loans because I don’t make enough money (36,000 family income) even though the mortgage, insurance, and taxes are less than I have been paying in rent for the past 5 years. But, my neighbor (single income family with 4 kids) qualified for more of a mortage than I have been wanting and she makes less money than I do. I mean, in my city, the average family income is 31,000 and the average home price is 190,000. How are people getting home loans when apparently they don’t qualify? Am I missing something and being too honest on the applications?